Tokenized Funds Signal Evolution in Asset Management, Says Hong Kong Official

According to Odaily, Hong Kong's InvestHK Global Head of Financial Services and Technology, Sustainable Development, King Leung, has noted a recent development where banks have accepted tokenized deposits from brokers and successfully subscribed to tokenized money market funds issued by fund companies. This emergence of tokenized funds marks a transition in the asset management industry from '2.0' to '3.0'. Leung anticipates that in ten years, the prevalence of tokenized funds will be comparable to that of ETFs today.