BNB News Today: Hong Kong's RWA Push Defies Beijing Caution: $3.8B Fund Tokenized on BNB Chain

China Merchants Bank's Hong Kong subsidiary, CMB International Asset Management Limited (CMBIAM), has tokenized its $3.8 billion USD Money Market Fund on the BNB Chain, marking a significant step in bridging institutional-grade real-world assets (RWAs) with blockchain infrastructure. The move, announced in October 2025, enables accredited investors to access the fund via CMBMINT and CMBIMINT tokens, which can be purchased using fiat or stablecoins and redeemed in real time through DigiFT's liquidity management smart contracts .

The fund, which ranks first in Bloomberg's Asia-Pacific performance rankings, primarily invests in short-term USD-denominated deposits and high-quality money market instruments from governments, quasi-government entities, and top financial institutions. By leveraging BNB Chain's low-cost, scalable infrastructure, CMB International aims to expand access to its fund, which has seen AUM grow from $2.9 billion in April 2025 to $3.6 billion by August, with the onchain launch reported at over $3.8 billion .

The tokenization initiative unfolds amid regulatory scrutiny in mainland China, where authorities have reportedly asked Hong Kong brokerages to pause RWA projects. While the Hong Kong Monetary Authority (HKMA) and CMB International declined to comment, the launch highlights the tension between Hong Kong's digital asset ambitions and Beijing's cautious approach to cross-border financial innovation .

BNB Chain's role in the project underscores its strategy to position itself as the "tokenization layer for all assets." The platform's ecosystem includes protocols like Venus Protocol and ListaDAO, enabling tokenized assets to be used in DeFi applications such as lending and yield generation. This collaboration aligns with broader trends in APAC, where regulators are advancing RWA frameworks-Singapore's MAS Project Guardian and Hong Kong's Digital Bond Grant Scheme are key examples .

CMBMINT and CMBIMINT tokens are supported by OnChain's infrastructure, allowing investors to utilize their holdings across decentralized finance (DeFi) platforms. This integration reflects a growing trend of blending traditional finance with blockchain, as seen in projects like BlackRock's tokenized Treasuries on Ethereum and AntChain's tokenized EV charging stations in Hong Kong .

The initiative also builds on CMB International's prior work with Singapore-based DigiFT, which tokenized the same fund on Solana earlier in 2025. This cross-chain deployment highlights the demand for interoperability in RWA tokenization, a priority for regulators and institutions alike .

Hong Kong's recent launch of the world's first RWA registry platform further signals the city's push to standardize tokenization. The platform aims to address fragmentation in regulatory frameworks and enhance transparency for assets like real estate and commodities . Meanwhile, BNB Chain's expanding RWA ecosystem includes partnerships with Franklin Templeton, Ondo, and infrastructure providers like Chainlink, positioning it as a key player in the next phase of decentralized finance .

CMB International's tokenized fund represents a milestone in institutional adoption of blockchain, demonstrating how regulated assets can achieve broader accessibility without compromising compliance. As APAC regulators refine frameworks and DeFi protocols evolve, the convergence of traditional finance and Web3 is likely to accelerate, reshaping global investment landscapes.

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[1] CMB International and BNB Chain Bring $3.8B Money Market Fund ... (https://www.bnbchain.org/en/blog/cmb-international-and-bnb-chain-bring-3-8b-money-market-fund-onchain)

[2] CMBI's Move to Tokenize $3.8B Money Market Fund on BNB Chain ... (https://en.coinotag.com/cmbis-move-to-tokenize-3-8b-money-market-fund-on-bnb-chain-may-prompt-regulatory-scrutiny/)

[3] BNB Holds Near $1,190 as China Merchants Bank Tokenizes Fund ... (https://www.coindesk.com/markets/2025/10/15/bnb-holds-near-usd1-190-as-china-merchants-bank-tokenizes-fund-on-bnb-chain)

[4] BCOM's First Attempt at Fund Tokenization - Who's Behind the ... (https://www.theblockbeats.info/en/news/59304)

[5] RWA Tokenization Hits A Political Speed Bump In China - Forbes (https://www.forbes.com/sites/digital-assets/2025/09/22/rwa-tokenization-hits-a-political-speed-bump-in-china/)

[6] Hong Kong vs Singapore: The $16T RWA Battle Over Tokenized ... (https://www.dexlaro.com/rwa-showdown-hong-kong-singapore-digital-assets)

[7] Asia Pacific Advances RWA Tokenization in 2025 - BeInCrypto (https://beincrypto.com/apac-rwa-tokenization-2025/)

[8] China Merchants Bank's Hong Kong arm tokenises money market ... (https://www.scmp.com/tech/article/3329078/china-merchants-banks-hong-kong-arm-tokenises-money-market-fund-bnb-chain)

[9] World's first RWA registry platform launched in Hong Kong (https://www.chinadailyhk.com/hk/article/617560)

[10] Chinese-funded bank-backed securities firms make their debut in ... (https://www.gate.com/news/detail/13026818)