Fidelity’s tokenized Money Market Fund debuts in Ethereum with Ondo holding $ 202M
Fidelity Investments rolled over to tokenized money market funding at Ethereum Blockchain, who marked Boston-based giant investment management in the fast-growing field of property.
Some $ 202 million in honesty digital interest tokens (FDIT) was minted blockchain in early September, Blockchain data In Ethercan shows. Fbit is the token representation of the Fidelity Treasury Digital Fund (Fyoxx), the On-chain class that shares the Fidelity Treasury Digital Fund (FIHXX), which aims to provide yield to investors by handling us with bills. The asset manager First unveiled The facility in March at a regulation of filing with the US Securities and Exchange Commission (Sec).
The main investor in offering is tokenization platform Finance at Ondo. Ondo’s sun -sun report Shut up. OUSG uses a set of tokenized funds in the currency market including Blackrock’s Buidl and Securitize, the Benji of Franklin Templeton and WISDOMMOMTree’s WTGXX to back token value.
Tokenized Treasury Boom
The tokenization of government debt, an important collateral property in the global markets, is part of a greater push to bring financial instruments, or real-world assets (RWA)to the blockchain metals. Global banks and manager ownership such as Fidelity Investments explore tokenization to cultivate times of negotiation, increase transparency and keep markets open around the clock.
The tokenized US Treasury market is growing rapidly, more than just past year’s travel to $ 7.5 billion, Rwa.xyz data Shut up. The Blackrock and Tokenization Specialist Securitize dominate the market with Buidl’s $ 2.4 billion tokens, followed by Franklin Templeton and WisDometree’s offerings.
These tokens are increasingly used as a major piece of infrastructure for techniques for producing yield and collateral in the crypto economy.
Read more: NASDAQ is looking for a nod from us sec to tokenize stock
