China Asset Management (Hong Kong) Limited (“ChinaAMC (HK)”) and Panthertrade (Hong Kong) Limited (“PantherTrade”), an SFC-licensed Virtual Asset Trading Platform (“VATP”), are pleased to announce the successful launch of the world’s first 24/7 retail secondary trading service for SFC-authorised public digital funds. The initiative enables investors to trade digital Money Market Funds around the clock on the platform, breaking the conventional cut-off times and multi-day settlement bottlenecks of traditional mutual funds.
In a global first, this breakthrough demonstrates how tokenisation has moved beyond theoretical proof-of-concept and primary market applications into high-utility, secondary market execution. By bringing together asset management and digital trading infrastructure, the collaboration provides a practical example of how tokenisation can expand access, enhance liquidity via efficient settlement, and reshape distribution of established investment products. It reinforces Hong Kong’s position as a global pioneer in real-world asset (RWA) tokenisation 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. This milestone highlights the proactive approach of the Securities and Futures Commission (SFC) to facilitate continuous market liquidity leveraging the existing public fund legal structure.
Trading is now live on PantherTrade, a wholly owned subsidiary of Futu Holdings Limited (“Futu Holdings”), where retail investors can buy and sell designated, tokenised shares of the ChinaAMC HKD Digital Money Market Fund and the ChinaAMC USD Digital Money Market Fund (collectively, the “Funds”) seamlessly 24 hours a day, 365 days a year—including weekends and public holidays—subject to the Platform’s operating rules. Investors can allocate capital at any time with high flexibility — buying into the Funds to capture potential yield, or selling instantly to redeploy capital into other investment opportunities.
Katie He, Executive Director and Head of Strategic Business at ChinaAMC (HK), commented: “The global financial system stands at an inflection point, as the shift toward an always-on, 24/7 real-time market emerges as the defining structural transformation of modern finance.
“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.
“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.”
Steve Zeng, Managing Director of Futu Holdings, added: “Building on our partnership of launching ChinaAMC (HK)’s tokenised money market funds last year, we are proud to take our strategic partnership a step further with the world’s first regulated 24/7 digital fund secondary trading service of its kind for retail investors.
“As demand for digital asset investments among Futu clients continues to grow, round-the-clock trading offers greater flexibility in managing investments beyond traditional market hours. Hong Kong’s forward-looking regulatory framework has positioned the city at the forefront of regulated digital asset innovation, and Futu remains committed to working with industry leaders to advance the tokenised asset ecosystem.”
Bridging Traditional Finance with On-Chain Infrastructure
The service addresses a long-standing inefficiency: traditional MMFs operate within fixed business-hour windows and multi-day settlement cycles. Blockchain-native trading unlocks full-time liquidity for public fund shares.
ChinaAMC (HK), as the first asset manager in Asia Pacific to launch SFC-authorised public tokenised money market funds for retail investors, has structured the service around a dual-track mechanism: secondary market trading, backed by primary-market subscription and redemption as a liquidity backstop. Trading pairs initially supported are the ChinaAMC HKD Digital Money Market Fund (Class F / HKD) against HKD, and the ChinaAMC USD Digital Money Market Fund (Class F / USD) against USD.
Investor protection forms an integral part of the service. The framework incorporates investor safeguards consistent with the SFC’s requirements for tokenised 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; 24/7 availability applies to secondary trading only.
The launch represents a shared achievement across fund management, brokerage distribution, and licensed digital trading infrastructure, laying groundwork for future integration with regulated digital currencies and broader on-chain asset interoperability.
Building on this launch, ChinaAMC (HK) and Futu Holdings intend to continue exploring opportunities to broaden access to tokenised real-world asset (RWA) investment products and to strengthen on-chain and off-chain connectivity across investment, trading and settlement services — further enriching Hong Kong’s digital economy and supporting its development as an international digital asset hub.
About China Asset Management (Hong Kong) Limited
Established in 2008, China Asset Management (Hong Kong) Limited (“ChinaAMC (HK)”) is a leading Chinese asset manager in Hong Kong. The company is a wholly owned subsidiary of China Asset Management Co. Limited, one of the most trusted asset managers and largest ETF providers in Mainland China with over US$464.5 billion in assets under management as of December 31, 2025.
Rooted in Hong Kong with a global perspective, ChinaAMC (HK) has built an 18-year track record of excellence across both active and passive investments. The firm offers deep multi-asset expertise, providing a comprehensive suite of equities, fixed income, ETFs, leveraged and inverse products, and digital assets, along with segregated account management and advisory services.
As a frontier in Asia’s digital asset space, ChinaAMC (HK) has introduced a number of pioneering products and built a comprehensive digital asset product line spanning virtual asset spot ETFs, digital money market funds, and digital gold ETF. As of June 2026, the scale of the company’s tokenised products exceeded US$800 million, among the largest in Asia. At the infrastructure level, ChinaAMC (HK) is among the first batch of asset managers to participate in the Hong Kong Monetary Authority’s Ensemble tokenisation sandbox, the Project e-HKD+, and the stablecoin pilot. It continues to work with regulators and industry peers to jointly build Hong Kong’s digital asset ecosystem, in pursuit of its vision of “Beyond TradFi”.
About PantherTrade (Hong Kong) Limited
PantherTrade (Hong Kong) Limited (“PantherTrade”) is a Hong Kong SFC-licensed Virtual Asset Trading Platform (VATP), established and wholly owned by Futu Holdings Limited (Nasdaq: FUTU), a leading technology-driven financial services firm. Built from the ground up within the Futu ecosystem, PantherTrade is Hong Kong’s first fully-licensed, brokerage-incubated VATP, purpose-built to bridge traditional finance and the digital asset world under a fully compliant regulatory framework.
PantherTrade provides a comprehensive suite of regulated digital asset services, including spot trading, institutional-grade asset custody, and RWA solutions. Deeply integrated with the Futu Group ecosystem, PantherTrade enables seamless cross-asset investment and bespoke wealth management services for retail, high-net-worth, and institutional clients alike.
Anchored by the regulatory culture and technology infrastructure of Futu Group, PantherTrade is committed to setting the benchmark for compliant, innovative digital asset services in Hong Kong and beyond.
About Futu Holdings Limited
Futu Holdings Limited (“Futu”) (Nasdaq: FUTU) is an advanced fintech company transforming the investing experience by offering fully digital financial services in multiple markets. Futu was listed on Nasdaq on March 8, 2019. Futu offers market data, financial news, interactive social features, and investor education on its proprietary one-stop digital platforms Futubull and Moomoo. Its subsidiaries provide clients with investing services including trading and clearing services for United States, Hong Kong SAR, China Connect, Singaporean, Australian, Japanese, Canadian, Malaysian and Korean stocks, margin financing and securities lending, crypto trading, and wealth management.
By creating an ecosystem centered around its users, Futu provides connectivity to users, investors, analysts, media, companies, and institutions. Futu also provides Employee Stock Ownership Plan (ESOP) solutions, initial public offering (IPO) distribution, and investor relations (IR) and public relations (PR) services through its institutional and corporate services brand, becoming the go-to partner of many well-known companies. Since its launch in 2019, Futu Money Plus has been working to build an all-in-one global asset allocation platform. Through cooperation with top fund houses worldwide, it provides clients with a wide range of best-performing funds to enable global asset allocations. Futu Trustee provides one-stop wealth management solutions for corporate clients and high-net-worth individuals and families, and revolutionizes service delivery for ESOP Trust Administration, Family Trust, and Family Office through technology.
Futu aims to become an influential financial services platform globally, by adhering to the missions of prioritizing users and user experience, driving high innovation across its product upgrade, and enriching products and services offering that meet the evolving needs of investors, companies, and the industry. For more information about Futu, please visit its official website www.futuholdings.com.
