Futu Group and China Asset Management (Hong Kong) have signed a long-term strategic cooperation agreement to promote deep integration between traditional finance and Blockchain technology in Web3.0.
Through the Futu NiuNiu app and the licensed digital asset trading platform, both parties will provide flexible 7×24 hours investment solutions, legal compliance, while developing a trading mechanism that combines 'on-chain' and 'off-chain'.
MAIN CONTENT
The strategic partnership between Futu Group and China Asset Management promotes Web3.0 and Blockchain.
Launch of tokenized money market fund products in three currencies: HKD, RMB, USD.
Explore the on-chain and off-chain trading mechanism, supporting continuous trading 7×24 hours.
What does the strategic partnership between Futu Group and China Asset Management mean for Web3.0?
Futu Group announces a partnership with China Asset Management (Hong Kong) to promote the integration of Blockchain technology into traditional financial systems, expanding the application of Web3.0. According to Mr. Li Hua, CEO of Futu Group, 'This combination represents an important step in developing tokenized financial products, contributing to enhancing the modern investment experience.' (2024)
This relationship not only promotes the development of the cryptocurrency market but also facilitates investors' access to tokenized money fund products, which were previously rarely available on licensed trading platforms that comply with strict regulations.
How are tokenized money market fund products implemented on the Futu platform?
The Futu NiuNiu App will launch a series of tokenized money market fund products issued by China Asset Management, including Hong Kong dollars, Renminbi, and US dollars. This provides a flexible investment solution 7 days a week, 24 hours a day for investors and cryptocurrency holders.
According to a report released in 2023, China Asset Management is a pioneer in issuing tokenized money market funds, owning the first tokenized fund products in the Asia-Pacific region and the world's first tokenized fund in RMB. This event affirms the capability to develop advanced digital financial products, meeting diverse market demands.
How is the on-chain and off-chain trading mechanism expected to perform?
The cooperation will expand research and implementation of the registration, buying, and redeeming model for tokenized fund products through two channels: on-chain and off-chain, ensuring transparency while creating a trading experience anytime, anywhere.
Combining these trading mechanisms will help increase liquidity and improve digital asset accessibility for all investors, creating breakthroughs in flexibility and safety in the DeFi market.
Ngo Thanh Phong, Product Development Director Futu Group, 2024
These initiatives are also applied to improve the Web3.0 ecosystem, especially in the context of the cryptocurrency market increasingly demanding more complex processes while ensuring legal compliance and transparency.
What advantages does China Asset Management have in the field of tokenized funds?
China Asset Management (Hong Kong) is recognized as a leading entity with the most comprehensive range of tokenized money market fund products currently available, including the first tokenized fund for individual investors in the Asia-Pacific region.
Characteristics of China Asset Management (Hong Kong) Other Unit First tokenized money fund in Asia-Pacific Yes No First tokenized fund in RMB in the world Yes No First spot cryptocurrency ETF in Asia Yes Not popular
In particular, the issuance of widely recognized tokenized funds contributes to strengthening the position in the digital financial industry and bringing new opportunities for modern cryptocurrency investors.
What licenses and services does Futu Group have in the field of digital assets?
Futu Group currently holds many licenses related to digital assets in international markets, providing diverse trading services including Spot, futures contracts, and cryptocurrency ETFs.
With advanced technology and a diverse ecosystem, Futu is committed to providing customers with risk-controlled and legally compliant investment solutions, especially in the current complex volatile market.
Dang Minh Tuan, Director of Technology Innovation Futu Group, 2024
The ability to operate and expand across multiple markets helps Futu create peace of mind for investors when exploring opportunities in the global cryptocurrency industry.
Frequently Asked Questions
What is the purpose of the collaboration between Futu Group and China Asset Management?
They collaborate to develop tokenized money market fund products, enhancing the integration of Blockchain and traditional finance, thereby improving the Web3.0 investment experience.
What are the standout features of the tokenized money market fund products offered by China Asset Management?
Includes a comprehensive range of tokenized funds, including the world's first RMB tokenized fund and tokenized fund for individual investors in the Asia-Pacific region.
Through which platform can customers trade this tokenized fund?
Through the Futu NiuNiu app and the licensed digital asset trading platform of Futu, with flexible 7×24 hours trading and legal compliance.
What role do on-chain and off-chain mechanisms play in trading?
Helps investors execute transactions flexibly and transparently, while increasing liquidity and safety for tokenized financial products.
What licenses does Futu Group have to provide digital asset services?
Futu holds many international licenses and provides diverse cryptocurrency trading services, including spot, futures, and ETFs, in accordance with regulatory requirements.
Source: https://tintucbitcoin.com/futu-china-amc-hop-tac-phat-hanh-token/
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