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By Kapil Rajyaguru
China’s CPIC Rolls Out $100M Tokenized Fund with HashKey as RWA Trend Expands in Asia
China Pacific Insurance (CPIC) Investment Management launched a tokenized U.S. dollar money market fund using the HashKey Chain, securing $100 million in subscriptions.
The fund, which invests in U.S. dollar-denominated short-term fixed income assets and money market instruments, is accessible for professional and institutional investors. This move is part of a growing trend of asset managers tokenizing traditional financial instruments on blockchain rails for operational efficiency and faster settlements.
Arizona’s Strategic Crypto Reserve Bills Heads For Full Floor Vote
Two strategic digital asset reserve bills in Arizona cleared Arizona’s House Rules Committee on March 24 and are now headed to the House floor for a full vote.
The bills together, if passed into law, would clear the way for Arizona to establish strategic digital assets reserves composed of existing assets confiscated through criminal proceedings in addition to newly invested public funds. The treasurer would be limited to investing no more than 10% of the fund’s total value each fiscal year. However, they would also be able to loan the fund’s assets in order to increase returns, provided that doing so doesn’t increase financial risks.
BNB Chain Launches $100mn Liquidity Program
BNB Chain has launched a $100 million program designed to bootstrap liquidity for its native projects on centralized exchanges (CEXs).
The network is allocating $100 million in incentives, primarily in the form of its native BNB tokens, to projects that successfully list on any of 11 major CEXs specified by BNB Chain, according to a March 24 announcement.
Only projects with at least a $5 million market cap and $1 million in daily trading volume are eligible, BNB Chain said, as the network seeks to boost CEX liquidity for native projects. The program aims to “further enhance BNB Chain’s ecosystem liquidity and foster project growth by incentivizing exchanges to list native BNB Chain tokens,” the chain said in the statement.
Sam Altman’s World Network in Talks With Visa for Stablecoin Payments Wallet
World Network, the blockchain-based ecosystem built to extend the functionality of biometric identification system Worldcoin, is in talks with card giant Visa to link on-chain card features to a self-custody crypto wallet, according to a person familiar with the plans.
The aim is to bring Visa card functionality to World Network wallets, delivering a range of fintech and FX applications, fiat on and off-ramps, as well as allowing stablecoin-based payments to thousands of merchants around the world that are part of the Visa network.
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