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Archax, a U.K.-regulated crypto exchange and custodian, is broadening its portfolio of tokenized real-world assets (RWAs). The platform has added money market funds from major financial institutions, including State Street Global Advisors, Fidelity International, and Legal & General Investment Management (LGIM).
Tokenization and Blockchain Integration
Archax will initially tokenize beneficial ownership in select money market funds from these providers. The tokenized assets will be launched on the following blockchains:
- Hedera Hashgraph
- XRPL (XRP Ledger)
- Arbitrum
Additional blockchain networks may be integrated in the future, offering clients more flexibility and accessibility.
Momentum in Tokenized Assets
The move highlights the growing trend of tokenizing real-world assets as more traditional finance (TradFi) giants, such as BlackRock, Franklin Templeton, and Abrdn, embrace the technology. Tokenization offers:
- Enhanced distribution and liquidity
- New use cases, such as collateral transfer
According to Graham Rodford, CEO of Archax:
“The industry sees the path to additional distribution and liquidity that tokenization brings, as well as the new innovative use cases like collateral transfer.”Future Plans and Acquisitions
Archax’s expansion isn’t limited to tokenized assets:
- The company recently announced plans to acquire King & Shaxson Capital Markets (KSCM), a Spanish broker.
- Completion of the acquisition depends on Spanish regulatory approval.
Significance of Tokenized Money Market Funds
The integration of money market funds into tokenized ecosystems represents a pivotal step for bridging TradFi and decentralized finance (DeFi). This collaboration could pave the way for:
- Easier access to traditional assets via blockchain technology.
- Improved transparency and efficiency in asset management and trading.
- Broader adoption of real-world asset tokenization as an industry standard.
Archax’s addition of tokenized funds underscores the rapid evolution of crypto and blockchain in traditional financial systems. As leading institutions continue to explore tokenization, platforms like Archax are poised to play a central role in redefining asset management.
Archax Expands Tokenized Asset Offerings with Top Money Market Funds was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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