Fidelity International has launched its first tokenised fund, the Fidelity International USD Digital Liquidity Fund (FILQ), for institutional investors.
Powered by Sygnum’s Desygnate platform, the fund enables 24/7 regulated, yield-bearing US dollar liquidity and collateral-ready mechanics.
“There is no tokenised finance without tokenised liquidity. Once markets settle in real time, cash must settle in real time too,” said Emma Pecenicic, head of digital assets distribution at Fidelity International.
“FILQ is Fidelity International’s answer to that imperative — combining over 30 years of fixed income expertise with blockchain infrastructure built for the digital asset economy.”
FILQ is structured as a digitally native fund powered by Sygnum’s Desygnate platform, its institutional-grade tokenisation infrastructure for regulated financial products.
Desygnate supports the fund’s on-chain registry, smart-contract-enabled settlement and stablecoin subscription mechanics, distinguishing FILQ from earlier “digital twin” fund structures, according to Fidelity International.
Fatmire Bekiri, head of Tokenisation at Sygnum, said: “FILQ marks an important milestone in the evolution of capital markets, demonstrating how tokenised money market funds can bring high-quality, yield-bearing liquidity on-chain in a regulated and scalable way.”
FILQ has been given an AAA-mf assessment by Moody’s. In its report, Moody’s said that “The Fund will have a very strong ability to meet its objectives of capital preservation and high liquidity”.
Apex Group acted as the transfer agent for the fund, supporting digital investor onboarding, wallet whitelisting and transaction processing for the tokenised fund structure, in alignment with applicable regulatory frameworks.
Peter Hughes, founder and CEO of Apex Group, said: “Apex Group’s 24/7 digital transfer agency model removes a structural limitation that has held back digital liquidity markets.”
“Many funds operate on chain, yet their subscriptions and redemptions still depend on traditional, business hour processes. Investors gain real‑time access to liquidity and continuous, automated processing. It reflects a more modern market infrastructure that is always available, transparent, and designed to reinforce trust,” added Hughes.
Fidelity International also worked with a network of infrastructure providers alongside Sygnum, including JP Morgan and Chainlink to support this initiative.
