A publication named Fund Selector Asia published a brief titled, "BlackRock authorised for its first tokenised money market fund in Hong Kong." It explains, "BlackRock ... announced that it has received regulatory authorisation for the BlackRock HKD Digital Liquidity fund, a Hong Kong-​domiciled Hong Kong dollar money market fund designed to operate across traditional and digital financial channels. The fund will combine blockchain technology with the established characteristics of a professionally managed money market fund, enabling eligible investors of all types to transact through traditional and on-​chain channels, with the aim of enhancing efficiency, transparency and access, according to a statement by the asset manager." The piece says, "[T]​he fund will be BlackRock'​s first tokenised offering in Hong Kong and Asia Pacific, and the first Hong Kong domiciled money market fund to offer a constant net asset value (​CNAV) to both institutional and retail investors in the local market.... Backed by BlackRock'​s institutional-​grade cash management, the fund seeks to provide liquidity, stability and income by investing in high-​quality, short-​term Hong Kong dollar money market instruments, such as government bills and deposits. The fund will add to BlackRock'​s global suite of tokenised money market funds, spanning the US, Europe and Asia Pacific." The release adds, "​Investors will be able to use HKDAP – one of the first regulated on-​chain Hong Kong dollar-​backed stablecoins, issued by Standard Chartered-​led Anchorpoint Financial Limited – to subscribe and redeem from the fund. This serves as the first commercial application for Standard Chartered as the bank distributor of HKDAP. Standard Chartered will also act as custodian, fund administrator and trustee of the Fund, alongside innovative digital responsibilities including tokenization."

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