<p>Hong Kong investment firm Harvest Global Investments, in partnership with Meta Lab HK, is set to offer a tokenized U.S. dollar bond fund.</p><p>The <a href="https://x.com/MetaLabHK/status/1727537111195410652?s&#61;20" rel="noopener noreferrer nofollow">collaboration</a> between Harvest Global Investments (HGI), an affiliate of Harvest Fund Management, and Meta Lab HK, backed by Harvest Digital Assets, marks a significant development in the crypto investment landscape within Hong Kong and the broader Asian region.</p><h2 id="header-0">First fixed-income tokenized fund from Chinese institution</h2><p>Meta Lab HK announced details of the new offering, detailed in a Nov. 22 post on X (formerly Twitter). The fund targets professional investors and will concentrate on U.S. dollar bonds with an investment-grade rating. Meta Lab wrote:</p><p>”We have learned that this will be the first fixed-income tokenized fund introduced by a Chinese financial institution in Asia with a tokenization arrangement. The fund is exclusively available to professional investors and primarily invests in investment grade U.S. dollar bonds.”</p><p>Meta Lab added, “The offering is set to be managed by HGI, a subsidiary of Harvest Fund in Hong Kong, with Meta Lab HK providing the tokenization solution.”</p><p>The tokenization of the fund, a process transforming traditional financial assets into digital tokens, is expected to enhance accessibility and efficiency for investors. The notification to Hong Kong’s securities regulator has been duly completed, underscoring the compliance and regulatory adherence of the initiative.</p><p>The move comes amidst a series of noteworthy developments emerging from Asia, occurring against the backdrop of persistent regulatory challenges facing the cryptocurrency industry in the United States.</p><h2 id="header-1">CoinFund market entry</h2><p>This announcement follows closely on the heels of CoinFund, a New York-based investment firm, which <a href="https://medium.com/&#64;coinness.gl/coinfund-expands-its-reach-into-asia-fe5f1ce78a58" rel="noopener noreferrer nofollow">revealed</a> its plans to expand services into Asia earlier this week. Choosing Hong Kong as the inaugural location for this expansion, CoinFund cited the city’s appeal to crypto talents as a key factor. As Asia takes strides in pioneering tokenized funds, it suggests a competitive landscape in digital asset development that could rival the United States.</p><p>It’s likely that Hong Kong is providing a workable environment for Harvest Global to take this tokenized product to market. In August, the local regulator, the Hong Kong Monetary Authority (HKMA), published a<a href="https://medium.com/&#64;coinness.gl/hong-kong-regulator-explores-tokenization-to-transform-bond-market-2dddc2e9c698" rel="noopener noreferrer nofollow"> report</a> where it indicated an interest in pursuing tokenization as a means to improve aspects of the bond market. The report presented outcomes of Project Evergreen, an initiative the HKMA had been running to examine the potential of tokenization, which also incorporated the launch of a first-of-its-kind tokenized green bond.</p><h2 id="header-2">Regional tokenization interest</h2><p>Recent weeks have also seen further efforts being made within the Asian region in terms of bond tokenization. Last week, SC Ventures, the Singaporean investment subsidiary of British banking group Standard Chartered, <a href="https://medium.com/&#64;coinness.gl/libeara-gears-up-to-offer-tokenized-singapore-dollar-government-bonds-8e9ca08920e5" rel="noopener noreferrer nofollow">unveiled</a> a new platform called Libeara. That platform is working towards the launch of the first-ever tokenized Singapore dollar government bond fund.</p><p>In the same week, the Bureau of the Treasury in the Philippines <a href="https://medium.com/&#64;coinness.gl/philippines-breaks-new-ground-in-first-ever-tokenized-bonds-sale-224c1e7ab4ab" rel="noopener noreferrer nofollow">announced</a> that it is issuing $179 million in one-year tokenized bonds, with the bonds being facilitated by the Development Bank of the Philippines and the Land Bank of the Philippines.</p>

Harvest Global to establish fixed income tokenized fund

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