China Pacific Insurance Company (CPIC), a major Chinese insurer, through its Hong Kong-based investment management subsidiary CPIC Investment Management, has launched a $100 million (approximately 133 billion KRW) tokenized U.S.
dollar money market fund. Named the "eStable Money Market Fund," this fund operates on HashKey Chain, a permissioned blockchain developed by the HashKey Group specifically for institutional investors.
The fund is exclusively available to professional and institutional investors and invests in U.S. dollar-denominated short-term fixed-income and money market products.
The tokenization process of the fund is managed by CPIC’s proprietary platform, PAC, while fund registration and administration are handled by Standard Chartered Bank.
The trend of tokenizing real-world assets (RWA) on blockchain platforms is expanding globally. Asset managers are leveraging blockchain technology to enhance operational efficiency, enable real-time settlements, and streamline financial transactions.
Traditional assets such as government bonds and credit products are being used to build new financial infrastructure through blockchain technology.
Major U.S. asset managers like Franklin Templeton, BlackRock, and Fidelity Investments have also entered the blockchain-based money market space.
Franklin Templeton and BlackRock have already launched tokenized U.S. Treasury funds, while Fidelity has recently applied for approval to launch a fund utilizing the Ethereum blockchain.
According to blockchain market analysis firm rwa.xyz, the tokenized real-world asset market has surged by approximately 500% over the past year, reaching a current mark
et size of about $4.8 billion
HashKey Group CEO Dr. Xiao Feng emphasized, "Finance is the flow of value across time and space, and blockchain is the new infrastructure that makes this possible." CPIC Investment Management CEO CG Zhou also highlighted "the strategic importance of blockchain-based tokenization that complies with regulations, bridging traditional finance and Web3."
CPIC plans to further expand the tokenization of traditional financial assets in the future, a move seen as evidence of Asia’s rise as a hub for the digital finance revolution.
