XDC Network has launched the first funds on its platform in token form, in collaboration with Archax, the digital asset exchange and custodian.
The first fund tokens put live relate to four of the world’s largest money market funds from Abrdn, Fidelity International, BlackRock and State Street.
Tokenised access to money market funds addresses a growing demand from institutional investors for regulated, digital-first financial products.
Angus O’Callaghan, head of trading and markets at XDC Network, said: “We’re excited to be taking this next step in our partnership with Archax and unlock access to some of the world’s largest money market funds with transparency and efficiency.”
“Providing digital representations of major money market funds 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.
