LONDON, UK – 26/04/2024 – (SeaPRwire) – In a groundbreaking announcement today, Archax, the pioneer in FCA-regulated digital asset exchange, brokerage, and custodianship, revealed its latest initiative to broaden the range of fund shares available in tokenized form. This expansion includes the introduction of the BlackRock ICS US Treasury money market fund (MMF) onto its platform. This move follows Archax’s successful tokenization of abrdn’s MMFs last year on both the Hedera and Ethereum blockchains.
Archax, with its commitment to innovation and regulatory compliance, continues to lead the way in the digital asset space. The addition of the BlackRock MMF, alongside existing offerings, further solidifies Archax’s position as a premier platform for accessing tokenized financial instruments. These tokenized shares are accessible not only directly through the Archax platform but also via interconnected networks, facilitating seamless transactions for investors.
The recent transaction involving tokenized shares of the BlackRock MMF, executed across the Ownera FinP2P digital asset network, marks a significant milestone. Leveraging the capabilities of Hedera’s open-source public ledger, this transaction underscores the efficiency and scalability of blockchain technology in facilitating financial transactions.
In the current economic landscape characterized by high interest rates, the importance of optimizing cash, treasury, and stablecoin assets cannot be overstated. Money market funds (MMFs) offer institutional investors a viable option for capital deployment, providing stability and potential yield through investments in short-term debt products. Furthermore, by creating a secondary market for tokenized MMF shares, Archax enhances liquidity and enables almost instantaneous transfer of assets throughout the day.
Graham Rodford, CEO and co-founder of Archax, emphasizes the importance of offering a diverse range of MMF products to cater to varying client needs. He views the expansion of tokenized MMF offerings as a strategic move to better serve the investment community and address evolving market demands.
In addition to product breadth, Rodford highlights the significance of distribution channels in reaching a broader investor base. Archax’s partnership with Ownera and the utilization of the FinP2P network exemplify the company’s commitment to expanding market access and facilitating seamless transactions.
Ami Ben David, CEO and co-founder of Ownera, underscores the role of technology in democratizing access to tokenized assets. Through Ownera’s routers, institutions of all sizes can efficiently route transactions to tokenized MMFs offered by Archax, contributing to the vision of a global institutional tokenized assets ecosystem.
With the growing interest in real-world-asset (RWA) tokenization, funds emerge as a prominent use case, bridging traditional finance and the crypto space. The tokenization of MMFs on platforms like Archax represents a significant step towards unlocking the potential of digital assets in institutional finance.
Shayne Higdon, CEO of The HBAR Foundation, recognizes the importance of platforms like Archax in enabling the tokenization of real-world assets on the Hedera network. This collaboration underscores the suitability of blockchain technology for institutional-grade tokenization, further validating Archax’s position as a leader in the digital asset space.
Capital at Risk. Archax offers tokenized MMF shares exclusively to professional and institutional clients.
About Archax
Archax is a global, regulated digital asset exchange, brokerage, and custodian headquartered in London. With a focus on bridging the gap between traditional finance and the blockchain ecosystem, Archax provides institutional investors with access to a wide range of digital assets, from cryptocurrencies to digital securities.
For more information, visit www.archax.com.
About Ownera
Ownera is a technology company specializing in interoperability solutions for tokenized assets. Through its routers, Ownera facilitates global distribution and liquidity, connecting tokenized assets distributed by sell-side institutions to buy-side demand. Ownera’s open FinP2P protocol enables seamless messaging, negotiation, and settlement of transactions across regulated service providers.
For more information, visit www.ownera.io.
About the HBAR Foundation
The HBAR Foundation supports Web3 communities built on the Hedera network by empowering and funding builders developing these communities. With a focus on various areas including the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders, the HBAR Foundation fosters innovation and collaboration within the Hedera ecosystem.
For more information, visit https://hbarfoundation.org.
SOURCE: Archax Holdings Ltd
by Arrow123
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