Key Takeaways
- • Fuze Finance and HBL Asset Management Limited signed a Memorandum of Understanding to jointly explore tokenisation and offshore distribution of investment products for the Pakistani diaspora, estimated at 13 million people worldwide.
- • Initial products under consideration include mutual funds, REITs and other eligible yield-generating investment assets, with HBL Asset identifying and structuring products and Fuze providing the regulated digital asset infrastructure and distribution layer.
- • The companies will first run a proof of concept testing investor eligibility, KYC and AML controls, custody, settlement, and issuance, holding, transfer and redemption of tokenised assets, with fiat and selected stablecoin flows under consideration.
- • The arrangement is exploratory only; any product launch remains subject to legal assessment, regulatory approvals and definitive agreements.
- • PwC projects global tokenised fund AUM to grow at a 41% compound annual rate to reach US$715 billion by 2030, per the press release.
Summary
Fuze Finance, a UAE-based regulated digital asset infrastructure provider, and HBL Asset Management Limited, a wholly owned subsidiary of Pakistan's largest commercial bank HBL, have announced they will jointly explore the tokenisation and offshore distribution of investment products for Pakistani diaspora investors globally. The announcement follows the signing of a Memorandum of Understanding between the two companies, according to the release distributed via Zawya.
The collaboration focuses on how diaspora investors, estimated at 13 million people worldwide, could access selected investment products such as mutual funds, real estate investment trusts (REITs) and other eligible yield-generating assets through tokenisation. Under the proposed division of roles, HBL Asset Management will identify and structure suitable products for potential tokenisation, while Fuze will supply the regulated digital asset infrastructure and distribution layer needed to offer them through compliant channels.
The companies plan an initial proof of concept to test technical, operational and regulatory requirements. This will cover investor eligibility, KYC and AML controls, custody arrangements, settlement, and the issuance, holding, transfer and redemption of tokenised assets. Subscription and settlement flows could include fiat currencies and selected stablecoins, subject to applicable regulation.
The release cites PwC's projection that global tokenised fund assets under management will grow at a compound annual rate of 41% to reach US$715 billion by 2030. Mohammed Ali Yusuf (Mo Ali Yusuf), CEO and Co-Founder of Fuze Finance, said tokenisation offers investors better access to regulated products while maintaining institutional standards. Mir Adil Rashid, CEO of HBL Asset Management, said tokenisation could create new channels for asset managers to reach eligible investors beyond their domestic markets.
The agreement is at an exploratory stage only. Any future product launch would require legal assessment, regulatory approvals and definitive agreements between the parties. HBL Asset Management, licensed by the Securities and Exchange Commission of Pakistan, manages more than 25 funds including mutual funds, exchange traded funds and pension funds. Fuze Finance states it processes over $10 billion in annual volume and is licensed by VARA in the UAE as a broker-dealer in virtual assets.
The collaboration focuses on how diaspora investors, estimated at 13 million people worldwide, could access selected investment products such as mutual funds, real estate investment trusts (REITs) and other eligible yield-generating assets through tokenisation. Under the proposed division of roles, HBL Asset Management will identify and structure suitable products for potential tokenisation, while Fuze will supply the regulated digital asset infrastructure and distribution layer needed to offer them through compliant channels.
The companies plan an initial proof of concept to test technical, operational and regulatory requirements. This will cover investor eligibility, KYC and AML controls, custody arrangements, settlement, and the issuance, holding, transfer and redemption of tokenised assets. Subscription and settlement flows could include fiat currencies and selected stablecoins, subject to applicable regulation.
The release cites PwC's projection that global tokenised fund assets under management will grow at a compound annual rate of 41% to reach US$715 billion by 2030. Mohammed Ali Yusuf (Mo Ali Yusuf), CEO and Co-Founder of Fuze Finance, said tokenisation offers investors better access to regulated products while maintaining institutional standards. Mir Adil Rashid, CEO of HBL Asset Management, said tokenisation could create new channels for asset managers to reach eligible investors beyond their domestic markets.
The agreement is at an exploratory stage only. Any future product launch would require legal assessment, regulatory approvals and definitive agreements between the parties. HBL Asset Management, licensed by the Securities and Exchange Commission of Pakistan, manages more than 25 funds including mutual funds, exchange traded funds and pension funds. Fuze Finance states it processes over $10 billion in annual volume and is licensed by VARA in the UAE as a broker-dealer in virtual assets.
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