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Regulation & supervision

Hong Kong SFC approves 24/7 trading of tokenised money market funds

APACSource: Securities and Futures Commission of Hong Kong

AI-generated image: Two frosted glass fund cubes marked HK$ and $ standing on a glowing 24-hour clock dial with harbour-night bokehAI-generated image
AI-generated image
  • The Securities and Futures Commission of Hong Kong said on 26 October 2026 that it has approved what it describes as the world’s first secondary trading of tokenised public funds on an SFC-licensed virtual asset trading platform, and that around-the-clock secondary trading of two existing SFC-authorised tokenised money market funds, the ChinaAMC HKD Digital Money Market Fund and ChinaAMC USD Digital Money Market Fund, began that day.
  • The pilot builds on a framework the SFC introduced in April 2026 through a circular issued on 20 April 2026, and the SFC says tokenised public funds could further leverage tokenised deposit capabilities developed with the HKMA under Project Ensemble.
  • The fund manager’s notice names PantherTrade, operated by Panthertrade (Hong Kong) Limited, as the trading platform.

Why it matters

The SFC links 24/7 trading of tokenised money market funds to settlement with tokenised deposits under Project Ensemble, which points to a role for Hong Kong banks’ tokenised deposit rails as the cash leg when investors sell fund tokens outside banking hours.

Read the original: Securities and Futures Commission of Hong Kong ↗

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More detail

Who is affected

Investors in the ChinaAMC HKD and USD Digital Money Market Funds, SFC-licensed virtual asset trading platforms, and fund managers of SFC-authorised tokenised funds.

Key dates

  • SFC circular on secondary trading of tokenised SFC-authorised investment products
  • Secondary trading of the two tokenised money market funds begins

What remains uncertain

  • The SFC says it will consider broadening the product scope over time; no timetable is given.

Key facts

Event
Regulatory approval
Jurisdiction
APAC
Source
Securities and Futures Commission of Hong Kong
Source tier
Tier 1 · Regulator / central bank
Product
Tokenized funds

In the database

How we verified this

The source says

“Secondary trading of two existing SFC-authorised tokenised money market funds, available around-the-clock, began today (Note1).”

“The Securities and Futures Commission (SFC) has approved the world’s first secondary trading of tokenised public funds on an SFC-licensed virtual asset trading platform (VATP).”

“Looking ahead, tokenised public funds could further leverage the tokenised deposit capabilities developed through the SFC’s collaboration with the Hong Kong Monetary Authority (HKMA) under Project Ensemble (Note 3).”

“While the first batch of products focuses on tokenised money market funds, the SFC will closely monitor the relevant trading activities and consider broadening the product scope over time, after taking into consideration market developments and experience gained.”

Verbatim from Securities and Futures Commission of Hong Kong, matched word for word against the live page on 31 October 2026.

Sources

Evidence

Confidence
High Primary source (regulator / official record); quote string-matched against the live page.
Quote verified
2026-10-31 20:46 UTC
Archived snapshot
SHA-256 6eaa9280299dd7f4… · fetched 2026-10-28 · Wayback Machine copy ↗
Change log (1)
  1. 2026-10-28 Published

Full evidence record · How we label confidence

AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source; quote string-matched against the live source page.

Methodology · How we classify sources · Corrections · Report an error

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