China’s CMB Tokenizes $3.8 Billion Money Market Fund on BNB Chain

China Merchants Bank’s Hong Kong unit has launched its tokenized CMB International USD MMF on BNB Chain, expanding RWA’s presence in DeFi.

CMB International Launches $3.8 Billion Tokenized Fund on BNB Chain

CMB International Asset Management (CMBI), a subsidiary of China Merchants Bank (CMB) in Hong Kong, has tokenized its $3.8 billion CMB International USD Money Market Fund on the BNB Chain blockchain.

BNB Chain announced the event, calling it “a new stage in the development of the tokenized asset (RWA) market in Asia.”

Earlier in August, CMBI had already launched a tokenized version of the fund on Solana in partnership with DigiFT, a Singapore-based asset tokenization platform.

What is known about the CMB International USD MMF fund

The fund was launched in early 2024 as part of the public structure of CMB International Open-ended Fund Company, registered in Hong Kong.

The fund’s main investments are directed to:

deposits in US dollars,
government monetary instruments of the US, EU, Singapore, China, Hong Kong, Macau and Taiwan.

According to the Hong Kong Stock Exchange (HKEX), the fund’s assets under management (AUM) increased from $2.9 billion in April to $3.6 billion in August, i.e. by 24%.

CMBMINT and CMBIMINT are tokens on BNB Chain

Two tokens have been created as part of the partnership — CMBMINT and CMBIMINT, which represent shares in the fund.

Investors can purchase tokens for fiat or stablecoins and redeem via the DigiFT platform.

Deploying on BNB Chain allows you to:

access the fund directly via the blockchain,
use tokens in DeFi applications (landing, staking, yield),
ensure transparency and instant liquidity of assets.

The project also involves infrastructure provider OnChain, which ensures the integration of RWA into a multi-network environment.

Regulatory uncertainty

The launch took place against the backdrop of reports that the Chinese securities regulator has informally called on Hong Kong brokerages to suspend RWA projects. Therefore, it remains unclear whether the tokenized CMBI fund is in line with local requirements.

Despite this, the partnership between CMB International and BNB Chain has become one of the largest examples of real asset tokenization in the region, which could set the tone for the future of regulated RWA products in Hong Kong.