Maybank Expands Tokenized Singapore Dollar Money Market Fund Distribution

Maybank Asset Management's Singapore unit has expanded distribution of its tokenised Singapore dollar money market fund to cater to growing demand for non-US dollar cash management products in digital markets.

The Maybank Money Market Fund's tokenised Singapore dollar share class is now accessible through Synthesys Network, which reaches more than 80 distribution channels globally, including banks, payment service providers, financial technology firms, and other financial institutions.

Synthesis Network is a Singapore platform connecting regulated distribution channels with tokenised investment products.

The company's chief executive, Hisham Hamzah, believes that tokenisation 'has the potential to reshape how investment products are distributed and accessed across global markets.'

Launched a year ago by Maybank Asset Management Singapore, it's said to be the first tokenised share class of a money market fund denominated in the Singapore dollar.