ChinaAMC completes digital fund transaction using HKD stablecoin

OSL HK handled trading and settlement, whilst Standard Chartered provided custody.

China Asset Management (Hong Kong) has completed a digital money market fund transaction using HKDAP, a regulated Hong Kong dollar stablecoin issued by licensed stablecoin issuer Anchorpoint Financial.

The transaction is amongst the first in Hong Kong to use a regulated HKD stablecoin for the subscription and redemption of digital fund units, ChinaAMC (HK) said.

HKDAP was used through trading accounts on OSL HK, a licensed digital asset exchange, to subscribe for and redeem units in ChinaAMC (HK)’s digital money market fund. 

Standard Chartered acted as the token and fund unit custodian and tokenisation agent, whilst OSL HK provided the subscription, trading, and settlement services, 

Since its launch in 2025, ChinaAMC's digital money market fund series has expanded to include Hong Kong dollar, US dollar, and Renminbi funds, with combined assets of more than $5.8b.

The funds are available through multiple Hong Kong-licensed virtual asset trading platforms and brokerage channels.

The funds will progressively move towards 24/7 trading, allowing investors to subscribe and redeem units outside traditional banking hours and during holidays, ChinaAMC said.

The move follows the implementation of Hong Kong’s Stablecoins Ordinance, which established a comprehensive regulatory framework for fiat-backed stablecoins.