Tencent Holdings, China’s largest Internet company by revenue, is about to launch its own monetary fund products in cooperation with a fund company, a Beijing-based newspaper reported Tuesday, citing sources close to the matter.

Tencent’s monetary funds, WeChat Tenpay, which will mainly target users on its mobile instant messaging service WeChat, are expected to make its debut as early as Wednesday, the Beijing Business Today reported, though some other media reported Tuesday that the launch could be on any day this week.

The Beijing Business Today report said Tencent is cooperating with leading fund firm China Asset Management Co Ltd (ChinaAMC) in launching the fund products, and later Tencent will cooperate with another three fund firms in selling fund products.

The report did not mention the investment return rate of Tencent’s new monetary fund product.

Source: iResearch