Hong Kong fintech firm Finloop has partnered with BNY Investments to offer "instant liquidity" for money market funds.
Finloop Finance Technology has partnered with BNY Investments to launch an "instant liquidity" management solution for retail and institutional clients in Hong Kong.
Finloop, a wealth tech platform backed by Fosun Wealth Holdings, said that its new "CashPro" solution will enable same-day interest accrual for subscriptions and support hourly redemption.
The solution will enable money market funds to provide "instant liquidity" and will be powered by BNY Investments' liquidity platform, according to a press release from both firms on Tuesday.
"We are thrilled to collaborate with BNY Investments, a cherished alliance capable of offering this unique solution, to provide our clients unparalleled access to liquidity solutions," said Cheng Kang, Chairman of Finloop.
"BNY Investments' liquidity platform has been pivotal in transforming 'CashPro' into a game changing solution for our clients. Finloop 'CashPro' currently services USD holdings and will expand to other currencies, including EUR, GBP, HKD, CNH, and JPY, in the near future."
Doni Shamsuddin, head of Asia Pacific, BNY Investments said: "We are excited to power the launch of 'CashPro' with BNY Investments' liquidity platform."
"By offering a diverse selection of money market funds in various currencies, our platform is uniquely equipped to support financial institutions in meeting their clients' liquidity requirements."