中资银行系券商RWA首秀，招银国际首发Solana链上基金

marsbitPublished on 2025-08-12Last updated on 2025-08-13

8 月 13 日（周三），Solana 官方发文 公布了招银国际与 DigiFT 及 OnChain 合作发行链上基金一事。文中提到：“招银国际将其港新（香港&新加坡）互认基金在 Solana 链上完成代币化，代币代码为 CMBMINT。此外，这也是全球首支 Solana 生态链上公募基金。”

基金代币化浪潮来袭，亚太地区头部基金入局

提起招银国际，自然离不开其背后母公司招商银行。

据了解，招商银行分别通过招银国际金控、招商永隆银行持有招银国际的 100%股权，而招银国际则下设招银国际证券。据招行 2024 年年报，招银国际总资产 808.13 亿港元，2024 年实现净利润 13.07 亿港元，资管业务规模 1303.27 亿元，较上年末增长 14.86%，共完成 38 单香港 IPO 项目。

今年 7 月 14 日，招银国际正式获得香港证监会（SFC）批准，成为香港首家取得虚拟资产交易服务等相关牌照的中资银行系券商。此举标志着继国泰君安国际、天风国际证券等中资券商升级虚拟资产牌照后，传统金融巨头正式入场香港数字资产市场。

而今，招银国际正式进军 RWA 领域，联手新加坡持牌 RWA 交易所 DigiFT 与 Solana 生态专业服务商 OnChain，将其美元货币市场基金成功代币化上链。该基金历史业绩表现卓越——根据公开数据，自 2024 年 2 月成立至 2025 年 7 月末，其累计收益率稳居亚太同类基金榜首。

招银国际此次与 DigiFT、OnChain 的合作，结合了传统金融机构与链上金融服务商的技术、合规、用户体验等多方优势，其中包括：

  • 第一，该基金得到了港新两地监管机构的同时认可；
  • 第二，该代币产品是第一个同时支持在 Solana、以太坊、Arbitrum 和 Plume 等公链上进行部署暨 Solana 链上全球第一只与公募货基表现挂钩的代币产品；
  • 第三，该代币产品同时支持法币和稳定币申赎；
  • 第四，该代币产品通过自研的流动性管理合约为代币提供实时赎回。

据了解，DigiFT 是首家获得新加坡金融管理局（MAS）认可的市场运营商（RMO）和资本市场服务（CMS）牌照的链上数字资产平台，OnChain 则是 Solana 生态专业的 RWA 服务提供商。二者与招银国际的合作，堪称强强联合。

不仅如此，招银国际此举或将产生更广泛的深层次影响，对香港数字资产行业发展、内陆地区资金流向以及 Solana 生态等产生巨大示范作用。

后续影响浅析：香港、内地两开花，Solana 生态圆梦互联网资本市场

从地区层面而言，招银国际实现公募基金代币化一事，不仅为新加坡地区的专业投资者打开了投资想象力的天花板，还为内陆地区、香港地区的投资选择、产业发展带来了新的思路；而对于加密货币行业，Solana 生态或将成为更多传统金融领域的老牌基金抢滩登陆地带。

对香港：推动产业发展，吸引投资资金

正如 DigiFT 官方公告 所强调的那样，“招银国际资管通过 DigiFT 在产品代币化链上发行和分销的创新实践积极响应了《香港数字资产发展政策宣言 2.0》的号召。该创新举措打破链上和链下的壁垒，全面重塑了传统的基金销售、运营与投资模式，使得投资者能够便捷地投资香港的优质金融产品，增强了香港在全球数字资产管理领域的竞争力。”

换言之，此举让更多资金能够借助基金代币化渠道进入香港，成为香港数字资产行业发展过程中的一部分流动性；并在一定程度上提升了香港对于 RWA 投资者的吸引力。

对 Solana 生态：推动互联网资本市场大步发展

一直以来，Solana 官方及生态的发展重点都集中于“互联网资本市场”这一概念，而招银国际代币化基金的出现，为这一概念增添了浓墨重彩的一笔。

作为亚太地区的头部基金机构，招银国际选择 Solana 作为基金代币化的重要生态之一，也为 Solana 后续的 RWA 板块发展提供了样本。正如 Solana 官方及 Solana 生态重要基建 Raydium 在推文及评论区中提到的：“这是互联网资本市场在 Solana 生态发生的证据”。

对内陆地区：更多中资银行系券商或将布局 RWA

对于内陆地区而言，尽管投资者短期内很难获得类似的投资机会，但招银国际作为中资银行下属机构，具有一定的示范作用，或将吸引更多中资银行系券商及下属机构布局 RWA 板块。

据了解，除招银国际以外，目前在港中资银行系券商包括国有银行旗下的工银国际、建银国际、农银国际、中银国际、交银国际，以及股份制银行旗下的浦银国际等机构。继蚂蚁集团、京东集团等互联网大厂之后，中资银行也将参与 RWA 赛道的市场角逐。

结语：基金代币化有望进一步扩张全球投资版图

随着 RWA 产业的不断发展，链上代币化产品囊括的 RWA 资产将进一步得到拓展，而全球投资版图也将得到进一步扩张。发展到一定程度时，加密货币行业流动性将与传统金融领域资金深度耦合，资金流动性得以高效利用，来自世界各地的专业投资者将能够自由参与不同地区的基金投资、股票投资。

届时，代币化产品将成为金融投资领域主流。

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