New York Life's asset management division launches tokenized bond fund
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New York Life Asset Management executive: The biggest opportunity for tokenization lies in personalized investing.
PANews reported on July 5th, citing Coindesk, that Thomas Sy, Head of Multi-Asset Solutions at New York Life Investment Management (NYLIM), which manages $800 million in assets, stated in an interview that blockchain could ultimately enable asset management firms to tailor portfolios for individual investors on a large scale—something the current financial system cannot achieve. "We believe the future of asset management lies in personalization. And the only technology that can help us achieve this at scale is blockchain." Personalized investment strategies often combine ETFs, bonds, private credit, and other assets, creating operational complexity that makes personalization difficult to scale. Tokenization can simplify transfer brokerage, settlement, and other back-office processes, reducing costs and ultimately benefiting investors.
Shinhan Asset Management partners with Plume on tokenized fund pilot
Shinhan Asset Management and Plume will test a tokenized fund using a Korean won-denominated ultra-short-term bond fund as its underlying asset.
The Hong Kong Securities and Futures Commission is discussing the removal of the 10% minimum investment exemption for virtual asset management.
According to Odaily Odaily, the Hong Kong Securities and Futures Professionals Association stated that representatives from the regulatory body, including Ip Chi-hang, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, and Chan Ho-lim, Under Secretary for Financial Services and the Treasury, met to discuss several specific policy changes, including: canceling the previous 10% minimum investment exemption for virtual asset management, and the new regulations taking effect immediately without a transition period. In addition, the Hong Kong Securities and Futures Commission (SFC) stated that it has communicated with the Hong Kong Securities and Investment Institute (HKSI) to separate the examination and courses for virtual asset platform practitioners, and to reduce the examination fees to align with the current Paper 2 and Paper 3 examination fees. The Hong Kong Securities and Futures Association also requested a clear distinction between technology services and regulated activities, and suggested that the SFC establish a clearer approval timetable and phased reference framework. (Sing Tao Daily)
Binance Wealth Management launches U-Life, offering a maximum annualized yield of 8%.
Binance Wealth Management announced the launch of its U-Protected Earnings Flexible Savings product, running from July 4th 08:00 to July 18th 07:59 (UTC+8). During this period, users who subscribe to the U-Protected Earnings product can enjoy an annualized yield of up to 8%, including real-time annualized yield and tiered bonus annualized yield. Each user can subscribe to a maximum of 10,000 U.
Mirae Asset's Hong Kong branch will launch a tokenized asset trading platform within three years, initially targeting Hong Kong clients.
According to a report by Straight News, Mirae Asset's Hong Kong branch plans to launch a tokenized asset trading platform within the next three years. This platform aims to convert existing investment assets and traditional financial assets into tokens for clients to trade. The company has recently expanded its business based on its newly launched trading platform, MAPS (Mirae Asset Portfolio Service), striving to transform from institutional business to a client-centric platform. Initially targeting Hong Kong clients, the platform's long-term goal is to establish a cross-regional trading architecture connecting South Korea and overseas markets.
Asset management giant Vanguard is hiring its first head of digital assets to evaluate strategies including tokenization and stablecoins.
PANews reported on July 8th that, according to Bitcoin Magazine, Vanguard, the world's second-largest asset manager (with approximately $12 trillion in assets under management), has created its first-ever Head of Digital Assets position, responsible for developing the company's long-term crypto and blockchain strategy. This role will evaluate areas such as tokenization, stablecoins, digital wallets, custody, and blockchain settlement, and determine whether Vanguard should build its own capabilities, partner with external entities, or postpone entry into certain markets. The position will involve developing multi-year roadmaps and designing governance and risk frameworks. Vanguard stated that this hiring does not indicate an upcoming launch of crypto products and that it currently has no plans to issue its own crypto investment vehicles.