CMB Worldwide Asset Administration tokenized the CMB Worldwide USD Cash Market Fund on BNB Chain via the CMBMINT and CMBIMINT tokens on Oct. 15.
The fund manages over $3.8 billion and ranked first amongst Asia-Pacific cash market friends in Bloomberg’s efficiency rankings as of October 2025.
Launched in 2024, the fund invests a minimum of 70% of its web asset worth in US dollar-denominated short-term deposits and high-quality devices issued by governments, quasi-governmental entities, and top-tier monetary establishments.
By tokenization, accredited traders can subscribe utilizing fiat or stablecoins and redeem their holdings in real-time through DigiFT’s liquidity administration good contracts, supported by infrastructure supplier OnChain.
Adam Bai, head of CMB Worldwide Asset Administration, mentioned BNB Chain’s infrastructure allows the agency to “securely and compliantly prolong our cash market methods to a broader international investor base.”
BNB Chain’s RWA ecosystem contains issuance companions, together with Franklin Templeton, Ondo, Securitize, Backed, OpenEden, and Asseto.
Among the many monetary property issued on the community are Circle’s USYC, VBill, Benji, and Money+.
The CMBMINT and CMBIMINT tokens will combine with the Venus Protocol and ListaDAO, enabling traders to make use of them as collateral for lending or in yield methods.
Sarah, head of enterprise improvement at BNB Chain, known as the collaboration “one other milestone in our RWA journey,” including that it reinforces BNB Chain’s imaginative and prescient to grow to be the tokenization layer for all property.
Regulatory context
On Sept. 23, Reuters reported that China’s securities watchdog suggested some native brokerages to pause their RWA tokenization enterprise in Hong Kong.
At the least two main brokerages obtained casual steering from the China Securities Regulatory Fee to chorus from conducting RWA enterprise exterior China.
Shares in prime Chinese language brokerages listed in Hong Kong, together with Guotai Junan Worldwide and GF Securities, fell between 2% and seven.25% on the information.
Hong Kong’s Monetary Providers, the Treasury Bureau, and the Hong Kong Financial Authority are conducting a authorized evaluate of RWA tokenization, with an preliminary deal with the bond market.
The Hong Kong Financial Authority acknowledged that it has tips in place to manage the sale and distribution of tokenized merchandise by banks and is exploring potential use instances via Venture Ensemble, a sandbox venture for tokenization.
GF Securities’ Hong Kong unit launched “GF tokens” in June, and China Retailers Financial institution Worldwide assisted Shenzhen Futian Funding in elevating 500 million yuan (roughly $70 million) through an RWA-based digital bond in September.
State-owned Guotai Junan Worldwide’s shares rose greater than 400% in June after the dealer obtained regulatory approval in Hong Kong to supply crypto buying and selling companies.
CMB Worldwide Asset Administration is an entirely owned subsidiary of China Retailers Financial institution working in Hong Kong.
The tokenized fund targets accredited traders via regulated channels supported by DigiFT and OnChain.
Moreover, this initiative helps place China within the RWA market, even when it means doing so via efforts in Hong Kong. Consequently, formidable predictions relating to the scale of the RWA market in a couple of years grow to be extra practical.
In its base case, McKinsey projected that tokenized monetary property will attain roughly $2 trillion by 2030, with an upside of practically $4 trillion.
In the meantime, Citi estimated that tokenized securities could be price round $4 to $5 trillion by the identical date. The Boston Consulting Group and ADDX projected a price of roughly $16.1 trillion by 2030.
Right here comes a brand new challenger
The worldwide RWA market reached an all-time excessive of $34 billion on Oct. 15, led by personal credit score’s $17.5 billion and tokenized cash funds’ $8.3 billion.
In accordance with rwa.xyz information, BNB Chain held a complete worth of $494.6 million in tokenized real-world property, representing 2.35% of the $34 billion market, and $469.9 million in tokenized cash funds, which accounted for five.6% of the $8.3 billion section.
The CMB Worldwide tokenization would deliver BNB Chain to roughly $4.3 billion in each classes, representing 11.4% of the whole RWA market and 35.3% of tokenized cash funds.
Ethereum holds a complete RWA worth of $12.1 billion (57.5% market share) and $5.8 billion in tokenized cash funds (70% market share).
In the meantime, Solana has a complete of $686.3 million (3.26%) and $461 million in tokenized funds (5.55%).
After the conclusion of this initiative, BNB Chain would rank second in each the general RWA market and the tokenized cash fund section.
Consequently, the dispute between Ethereum and Solana over the bottom within the shiny tokenization market could be shaken by the rise of the BNB Chain.
Though Ethereum would nonetheless dominate the market, BNB Chain would take Solana’s place as the most effective contender, contemplating the present numbers.
