tl;dr
CMB International Asset Management tokenizes a $3.8B fund on BNB Chain, leveraging blockchain to expand real-world asset access while navigating regulatory hurdles and competing with Ethereum and Solana in the RWA space.
**CMB International Asset Management Tokenizes $3.8B Fund on BNB Chain, Reshaping RWA Market Dynamics**
In a significant move for the tokenized finance sector, **CMB International Asset Management** (CMBI) has tokenized its **CMB International USD Money Market Fund** on the **BNB Chain** using the **CMBMINT** and **CMBIMINT** tokens, marking a pivotal step in expanding access to real-world assets (RWA). The initiative, announced on **October 15**, underscores the growing intersection of traditional finance and blockchain technology, positioning BNB Chain as a key player in the global RWA ecosystem.
### A $3.8B Fund with Asia-Pacific Dominance
The tokenized fund, which manages **$3.8 billion in assets**, was ranked **first among Asia-Pacific money market peers** in Bloomberg’s performance rankings as of October 2025. Launched in 2024, the fund invests at least **70% of its net asset value** in U.S. dollar-denominated short-term deposits and high-quality instruments from governments, quasi-governmental entities, and top-tier financial institutions.
Through tokenization, **accredited investors** can now subscribe using **fiat or stablecoins** and redeem holdings in real-time via **DigiFT’s liquidity management smart contracts**, powered by **OnChain** infrastructure. Adam Bai, head of CMB International Asset Management, highlighted that BNB Chain’s infrastructure enables the firm to "securely and compliantly extend our money market strategies to a broader global investor base."
### BNB Chain’s RWA Ecosystem Gains Momentum
The collaboration aligns with BNB Chain’s broader vision to become the **tokenization layer for all assets**. The network’s RWA ecosystem includes partnerships with major players like **Franklin Templeton, Ondo, Securitize, and Backed**, and hosts tokenized assets such as **Circle’s USYC, VBill, Benji, and Cash+**. The CMBI tokens will further integrate with **Venus Protocol** and **ListaDAO**, allowing investors to use them as collateral for lending or yield strategies.
Sarah, head of business development at BNB Chain, called the partnership a "milestone in our RWA journey," emphasizing its role in advancing the blockchain’s position as a hub for tokenized financial instruments.
### Regulatory Challenges and Strategic Positioning
Despite the growth, regulatory scrutiny looms. On **September 23**, **Reuters** reported that **China’s securities watchdog** advised local brokerages to **pause RWA tokenization activities in Hong Kong**, leading to sharp declines in shares of major firms like **Guotai Junan International** and **GF Securities**. Meanwhile, Hong Kong’s financial regulators are conducting a legal review of RWA, with an initial focus on the bond market.
However, CMBI’s move highlights how **China’s financial institutions are leveraging Hong Kong’s regulatory environment** to advance RWA initiatives. The tokenized fund targets **accredited investors** through regulated channels, with support from DigiFT and OnChain. This strategy not only circumvents mainland restrictions but also positions China as a key player in the global RWA market.
### Market Projections and BNB Chain’s Rise
The global RWA market reached an all-time high of **$34 billion** on October 15, driven by **private credit** ($17.5 billion) and **tokenized money funds** ($8.3 billion). BNB Chain’s tokenized RWA value stood at **$494.6 million** (2.35% of the market) and **$469.9 million** in tokenized money funds (5.6% of the segment).
CMBI’s tokenization is expected to elevate BNB Chain’s total RWA value to **$4.3 billion** across both categories, capturing **11.4% of the $34 billion RWA market** and **35.3% of the tokenized money fund segment**. This would place BNB Chain as the **second-largest player** in both categories, trailing only **Ethereum**, which holds **$12.1 billion (57.5%)** in RWA and **$5.8 billion (70%)** in tokenized money funds.
**Solana**, currently a close contender, holds **$686.3 million (3.26%)** in RWA and **$461 million (5.55%)** in tokenized funds. With BNB Chain’s expansion, the dynamic between Ethereum and Solana is set to shift, as BNB Chain emerges as the **primary challenger** to Ethereum’s dominance.
### The Road Ahead
Analysts predict the RWA market could reach **$2 trillion by 2030** (McKinsey), with some projections exceeding **$16 trillion** (Boston Consulting Group). CMBI’s initiative not only bolsters BNB Chain’s market share but also accelerates the adoption of tokenized assets in Asia. As regulatory frameworks evolve and blockchain infrastructure matures, the battle for RWA supremacy is heating up—with BNB Chain now a formidable contender.
In this new era of finance, the fusion of traditional assets and blockchain innovation is not just reshaping markets but redefining the boundaries of global capital.