Asset manager Vaneck launched its first tokenized fund, joining a roster of institutions entering the race to bring assets on-chain with tokenziation.
The Vaneck Treasury Fund (VBill), developed with the tokenization specialist Securitize, offers access to on-chain short-term debt to the US Treasury and available to Avalanche Avax$24.70BNB chain Bnb$654.30Ethereum Eth$2,537.23 and Solana Sol$173.88 Networks, according to a press release of Tuesday.
“By bringing us treasury on-chain, we provide investors with a safe, transparent, and liquid tool for cash management, further integration of digital assets into major financial markets,” Kyle Dacruz, director of digital assets in Vaneck, said in a statement. “Tokenized funds such as Vbill enhance liquidity and market efficiency, emphasizing our commitment to providing value to our investors.”
Vaneck, which also releases the spot bitcoin Btc$103,463.37 and Ether Eth$2,537.23 ETFs, following in the footsteps of Blackrock, Franklin Templeton and other traditional financial companies that launch tokenized products. Tokenization is the process of placing instruments such as bonds, credit, goods, real estate on blockchain metals in token form to achieve faster adjustments, cheaper transactions and operating efficiency.
The tokenization of the US Treasury, a traditional reserve of owner, is ahead of these efforts. It’s a nearly $ 7 billion market today, growing more than 500% in the last year, per Rwa.xyz data.
VBill will be accessible to qualified investors with a minimum investment of $ 100,000 in most blockchains, with a $ 1 million minimum subscription to Ethereum. The owners of the funds are held by State Street and priced every day using data from Redstone’s Oracle Service.
The token supports the peripheral-the onramp clock with the USDC stablecoin of the circle. It also offers atomic liquidity to Agora’s AUSD Stablecoin, which means that VBill tokens can be redeemed for these tokens in a single transaction through intelligent contracts. Now is a stablecoin startup assisted by Nick Van Eck, the grandson of the founder of Vaneck.
