Hong Kong-based alternative asset manager Flow Capital Partners is preparing to bring its $150 million Asia Credit Master Fund onto the blockchain, tapping Singapore-licensed exchange DigiFT Tech Pte. to distribute tokenized fund shares to investors for the first time.
The Announcement
A Bloomberg report reveals that Flow Capital Partners intends to launch a master fund on DigiFT by the end of April 2026. This development will make Flow Capital one of the first Asian alternative managers to tap growing stablecoin liquidity. Jacky Tian, the firm’s chief investment officer and a former Oaktree Capital Management executive, confirmed the move. The goal is to raise an additional $30 mi,llion in tokenized shares by year-end, taking the fund, which was launched in June 2025 with $125 million, to a target of $250 million by December.
Flow Capital Partners is a Hong Kong-based institutional alternative asset manager founded in 2019. The firm focuses on credit investments in Asian public and private markets but has historically focused on Hong Kong and Greater China. In response to shifting demand in Asia, under Tian’s leadership, the fund has begun to widen its remit beyond Chinese property credit and towards renewable energy and broader pan-Asian credit.
Why DigiFT, and What Investors Get
DigiFT is not a newcomer to this space. The Singapore-based exchange holds a Capital Markets Services licence and a Recognised Market Operator licence from the Monetary Authority of Singapore, as well as approval in principle from the Hong Kong Securities and Futures Commission. That dual-jurisdiction regulated status gives it a rare position in Asia: it can both issue tokenized real-world asset products and operate a secondary marketplace for those tokens on Ethereum’s public blockchain.
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For Flow Capital Partners, distributing through DigiFT means investors can subscribe to and redeem tokenized fund shares using U.S. dollars or stablecoins such as USDC and USDT. That opens the door to a class of crypto-native capital that would typically have no clean pathway into a traditional private credit vehicle. It also creates a new distribution layer for institutional and accredited investors across Asia who prefer onchain settlement over conventional fund administration.
DigiFT’s existing roster of asset manager partnerships includes Invesco, UBS Asset Management, Wellington Management, and Hines, global names that have each chosen the platform to bring institutional strategies onchain. Back in August 2025, SBI Holdings, which is the largest financial services group in Japan, supported DigiFT in strategic funding worth $25 million. Other participants in this round included Offchain Labs, Polygon Labs and Mirana Ventures. The funds raised highlight the fact that the platform wants to serve as the backbone of Asia’s tokenized finance market.
The RWA Backdrop: Asia Leads the Tokenization Wave
Flow Capital’s move arrives at a moment of significant momentum for tokenized real-world assets globally, and for Asia in particular. Total onchain RWA value crossed $12 billion in early 2026, up approximately 140 percent from around $5 billion just 15 months prior, according to data from rwa.xyz. Private credit and tokenized U.S. Treasuries are the two largest categories driving that growth.
Asia’s regulations have come a long way. The law allowing stablecoins to be used in Hong Kong was established in August 2025. Through a series of moves as well as active tokenization pilots from regulators across Singapore, Japan as well as South Korea, a workable legal foundation has been laid for just the type of product that Flow Capital is now taking to market. Industry voices at Consensus Hong Kong 2026 described 2026 as the year the region transitions from regulatory preparation to full institutional deployment, with private credit and tokenized money market funds at the center of that shift.
The trend is also visible at the infrastructure level. DigiFT, Chainlink, and UBS Tokenize are currently co-developing automated fund distribution and lifecycle management rails under Hong Kong’s Blockchain and Digital Asset Pilot Subsidy Scheme. That project, which aims to remove manual reconciliation from tokenized fund issuance, would directly benefit products like the Flow Capital fund once the infrastructure reaches commercial scale.
Industry Context: Private Credit Onchain Is Gaining Ground
Flow Capital Partners is not the first private credit manager to take this route, but it is among the first in Hong Kong to do so with a live, scaled fund. Invesco partnered with DigiFT in February 2025 to tokenize a portion of its $6.3 billion senior secured loan strategy, a deal that demonstrated institutional appetite for onchain credit products is real and growing.
