China Asset Management ( Hong Kong ) Limited ( ChinaAMC HK ) and PantherTrade ( Hong Kong ) Limited, a virtual asset trading platform ( VATP ) licensed by Hong Kong’s Securities and Futures Commission ( SFC ), have launched the world's first-ever 24/7 retail secondary trading of digital money market funds.
The service demonstrates how tokenization can expand access, enhance liquidity via efficient settlement, and reshape distribution of established investment products, the companies say, adding that it reinforces Hong Kong’s position as a pioneer in real-world asset ( RWA ) tokenization and regulated digital asset financial infrastructure.
The initiative also marks the first time an international financial centre has integrated traditional fund regulation, licensed VATP infrastructure and round-the-clock liquidity into a single regulatory framework, they note.
Trading is now live on PantherTrade, a wholly owned subsidiary of Futu Holdings, where retail investors can buy and sell designated, tokenized shares of ChinaAMC’s HKD and USD digital money market funds seamlessly 24 hours a day, 365 days a year.
“Our partnership with PantherTrade to launch the world's first 24/7 secondary trading service for digital public funds carries strategic importance far beyond product innovation – it is a landmark advance that demonstrates how traditional and digital finance are converging to re-architect the rails of global capital markets,” says Katie He, executive director and head of strategic business at ChinaAMC ( HK ).
“By bridging institutional-grade asset management with on-chain capital efficiency, this milestone establishes a new paradigm for yield-bearing digital cash management instruments that are regulated, liquid and programmable by design, while cementing ChinaAMC ( HK )'s position at the forefront of regulated digital asset innovation and laying critical groundwork for future integration with the broader digital asset infrastructure under Hong Kong’s regulatory framework.”
Investor protection forms an integral part of the service. The framework incorporates investor safeguards consistent with the SFC’s requirements for tokenized product secondary trading, including real-time indicative net asset value ( iNAV ) display, price deviation alerts, and a five-minute cooling-off period as part of the volatility control measures to support informed investment decisions and orderly trading.
Primary-market subscriptions and redemptions remain available – subject to the funds’ offering documents and same-day NAV calculation, while 24/7 availability applies to secondary trading only.
