Hong Kong Securities and Futures Commission Approves Secondary Market Trading of Publicly Offered Tokenized Funds for the First Time

on October 26, the Hong Kong Securities and Futures Commission (SFC) approved the first global batch of public tokenized funds for secondary market trading on SFC-licensed Virtual Asset Trading Platforms (VATPs). Two existing SFC-approved tokenized money market funds began offering around-the-clock secondary market trading today. The inaugural products consist mainly of tokenized money market funds. The SFC will closely monitor related trading activities and will consider expanding the range of eligible products at appropriate times, guided by market developments and accumulated experience.

Huaxia Fund (Hong Kong) and Leopard Trading have launched the world's first 24/7 round-the-clock secondary market trading service for SFC-approved digital public funds. Subject to platform operational rules, individual investors can purchase or sell tokenized shares of the approved Huaxia Fund HKD Digital Money Market Fund and Huaxia Fund USD Digital Money Market Fund around the clock, 24 hours a day, 365 days a year (including weekends and public holidays).

The relevant trading functionalities are now live on Leopard Trading. Leopard Trading is an SFC-licensed Virtual Asset Trading Platform (VATP) wholly established by fintech company Futu Holdings Limited.