Hong Kong Launches 24/7 Trading for Tokenized Money Market Funds in Global First

Hong Kong has taken a major step toward modernizing traditional finance by approving round-the-clock trading of tokenized money market funds. The Securities and Futures Commission (SFC) announced the approval on October 26, 2026, marking a significant milestone for regulated digital assets.

The decision allows investors to trade two existing authorized funds through a licensed virtual asset trading platform. The initiative strengthens Hong Kong’s position as a leading financial hub for blockchain-based investment products.

Hong Kong Introduces Continuous Tokenized Fund Trading

The approval covers the ChinaAMC HKD Digital Money Market Fund and ChinaAMC USD Digital Money Market Fund. Both products are managed by China Asset Management (Hong Kong) and are available through PantherTrade, a licensed platform owned by Futu Holdings.

Previously, investors generally purchased or redeemed fund units directly through the asset manager during designated dealing periods. However, the new secondary market allows investors to trade existing units with other participants at any time.

This arrangement includes weekends and public holidays, providing greater flexibility for investors managing portfolios across international markets.

The SFC described the development as the world’s first secondary trading arrangement for tokenized public funds on a licensed virtual asset trading platform.

Regulatory Framework Supports Investor Protection

Hong Kong introduced its regulatory framework for secondary trading of tokenized investment products in April 2026. The framework establishes safeguards covering fair pricing, liquidity provision, trading operations, and investor disclosures.

These requirements aim to maintain orderly markets while supporting innovation in digital finance.

However, secondary market prices may differ from a fund’s underlying net asset value. Investors must therefore consider potential price fluctuations and liquidity risks, particularly outside traditional financial market hours.

The regulator plans to monitor trading activity before considering additional eligible investment products.

Tokenization Expands Hong Kong’s Digital Finance Ambitions

The latest approval reflects Hong Kong’s broader strategy to integrate blockchain technology with established financial markets. Tokenization allows conventional financial assets to exist in digital form, potentially improving transferability and operational efficiency.

Furthermore, the SFC is exploring opportunities involving tokenized deposits through Project Ensemble, an initiative developed alongside the Hong Kong Monetary Authority.

Such infrastructure could eventually support faster settlement and more efficient movement of investment proceeds between financial products.

For asset managers and investors, continuous trading represents a meaningful shift from traditional fund dealing arrangements. Nevertheless, its long-term success will depend on market participation, reliable liquidity, and effective regulatory oversight.

Hong Kong’s latest initiative could provide a model for other financial centers exploring regulated tokenized investment markets.