Futu launches China Asset Management’s tokenized money market fund to explore on-chain subscription and redemption and stablecoin application scenarios

Futu Group (FUTU) and Huaxia Fund (Hong Kong) announce the establishment of a cooperation relationship in the Web3.0 domain. Futu will serve as the exclusive broker, launching tokenized money market fund products issued by Huaxia Fund (Hong Kong) on its platform, covering three currencies: Hong Kong dollar, RMB, and US dollar. Currently, the Hong Kong dollar product is already online on the Futu platform, with the US dollar product expected to be launched this week. Both parties plan to explore on-chain and off-chain dual-mode subscription and redemption mechanisms, and support 7×24-hour on-chain trading and account services. Additionally, Futu Group's Managing Director Zeng Yuchao stated that after stablecoin issuance, Futu will support stablecoin usage on the platform, such as allowing users to use stablecoins as platform balance or holding assets to directly buy stocks, with Futu handling the fiat currency clearing and settlement process.