CMB International Asset Management

What was announced

On 8 August 2025 CMB International Asset Management (CMBIAM), the asset management arm of China Merchants Bank’s Hong Kong subsidiary, said it had worked with DigiFT to tokenise the CMB International USD Money Market Fund and distribute it onchain. The fund is authorised in both Hong Kong and Singapore. DigiFT, which holds Recognised Market Operator and Capital Markets Services licences from the Monetary Authority of Singapore, issues a token linked to the fund’s performance and sells it on its platform to accredited investors as defined under Singapore’s Securities and Futures Act. OnChain, a Solana service provider, gave technical support. CMBI said the token was the first to be deployed on Solana, Ethereum, Arbitrum and Plume at once, and that it supports subscription and redemption in fiat and stablecoins. CMBI made no dated commitments.

How it works

The fund itself is a sub-fund of CMB International Open-Ended Fund Company, a Hong Kong fund company with CMBIAM as manager. CMBI’s release describes the token as a DigiFT product linked to the fund’s performance, and its disclaimer says the token is not a CMBI product and that CMBI offers no tokenised version of its products in Singapore. A token holder therefore holds a claim through DigiFT, not shares on the fund’s register. Neither CMBI nor DigiFT has said in a tier 1 or 2 source how DigiFT holds the underlying shares, so legal is unclear.

DigiFT’s own contracts give real-time redemption. The CMBMINT contract on Ethereum is a verified SecurityToken contract, and sales are limited to accredited investors on a licensed platform, so the rubric records public-permissioned and whitelisted. Stablecoin subscriptions are allowed, but no regulated stablecoin is named, so settlement is offchain.

Record so far

On 15 October 2025 the tokens, CMBMINT and CMBIMINT, went live on BNB Chain. BNB Chain’s announcement quotes Adam Bai, head of CMBIAM, and gives fund assets of about US$3.8 billion.

On 26 October 2026 the Ethereum contract showed a supply of about 359,674 CMBMINT across seven holders, with tokens minted and burned in most months of 2026. On 29 September 2026 a single transfer moved about 358,635 tokens, nearly all the supply, to one address. Regular issuance and redemption move scale to repeat. The product is open to accredited investors with no end date, so the stage is production.

For Ethereum

CMBMINT is an ERC-20 security token on Ethereum mainnet, with a second deployment on BNB Chain. The Ethereum contract carries real value, but one holder has most of the supply. Because DigiFT issues the token rather than the fund, the onchain holder list and the fund’s register are separate records, and only DigiFT’s documents can show how they are reconciled.

What to watch

A DigiFT or CMBI document showing whether DigiFT holds fund shares one-for-one would settle legal. Supply and holder counts on Solana, Arbitrum and Plume are not yet tracked here, because no tier 1 or 2 source has published those addresses.