Abrdn, State Street, Fidelity and BlackRock Money Market Funds Now Tokenised on XDC Network
XDC Network, an enterprise-grade Layer-1 blockchain, announced the launch of the first funds on its platform in token form in collaboration with Archax, the FCA-regulated digital asset exchange, broker and custodian. This builds on the previous partnership announcement between XDC and Archax for real-world asset (RWA) tokenisation. The first fund tokens that are live represent four of the world’s largest money market funds (MMFs) from providers including abrdn, Fidelity International, BlackRock and State Street, and will be followed by others from the 100+ available through Archax from a variety of asset managers.
Financial Technology Insights: Merck Employees FCU Partners with Carefull to Combat Elder Fraud
“Providing digital representations of major MMFs opens up a potential new audience for these types of yield-bearing products that historically have been challenging for some to access”
Tokenised access to money market funds addresses a growing demand from institutional investors for regulated, digital-first financial products. There are currently $11.5 billion tokenised RWAs on-chain with some projections estimating the value could reach $16 trillion by 2030. By bringing these established investment vehicles onto the blockchain, XDC Network and Archax are creating new opportunities for improved liquidity, faster settlement, and reduced operational costs.
Financial Technology Insights: TwentyOneVC Launches Crypto Arbitrage Service to Improve Market Efficiency
“Providing digital representations of major MMFs opens up a potential new audience for these types of yield-bearing products that historically have been challenging for some to access,” said Keith O’Callaghan, Head of Asset Management and Structuring at Archax. “We’re excited to hit this milestone with XDC Network, a firm that is poised to become one of the railways of the future of the finance industry.”
The implementation leverages XDC Network’s delegated proof-of-stake consensus mechanism, enabling transactions with sub-second finality and near-zero gas fees. The platform’s enterprise-grade infrastructure aims to meet compliance with institutional requirements for security, scalability, and regulatory reporting.
Financial Technology Insights: Corpay Cross-Border Launches Multi-Currency Accounts
“With our platform’s robust performance and functionality, we have the ideal protocol for real-world asset tokenisation for institutions who want to work with regulated entities like Archax,” said Angus O’Callaghan, Head of Trading and Markets at XDC Network. “We’re excited to be taking this next step in our partnership with Archax and unlock access to some of the world’s largest MMFs with transparency and efficiency.”
This listing is the latest in the ongoing partnership between Archax and XDC Network. Together, the firms combine the power of a regulated digital asset platform with innovative blockchain solutions to enable financial institutions like the leading MMFs to access tokenised RWAs cost-effectively and efficiently. In partnership, these crypto leaders are bridging traditional finance and blockchain innovation to broaden digital asset adoption and revolutionise global financial markets.
Source: Businesswire
To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com
