The post Archax Expands Tokenized Asset Offerings with State Street and Fidelity Funds on Hedera Hashgraph, XRPL, and Arbitrum appeared on BitcoinEthereumNews.com.

Archax has made a significant move by expanding its offerings to include money market funds from notable financial entities such as State Street, Fidelity International, and Legal and General Investment Management. These tokenized assets are set to be operational on high-performance blockchains including Hedera Hashgraph, XRPL, and Arbitrum, paving the way for easier access to real-world investments. “Tokenized real-world assets, and in particular funds, are really gaining momentum,” stated Graham Rodford, CEO and co-founder of Archax, emphasizing the industry’s shifting dynamics. Archax enhances its platform by introducing money market funds from major institutions, encouraging the adoption of tokenized real-world assets across blockchain networks. Archax Expands Offerings with Tokenized Real-World Assets Archax, a U.K.-regulated crypto exchange and custodian, has announced its latest initiative to incorporate funds from major players in traditional finance, including State Street, Fidelity International, and Legal & General Investment Management. In a press release issued on Wednesday, the company highlighted its commitment to advancing the tokenization of real-world assets (RWAs) amidst a growing trend among finance giants. The Shift to Tokenization in Traditional Finance This landmark decision will initially provide tokenized access to select money market funds managed by these institutions. Archax plans to issue beneficial ownership tokens that will represent clients’ holdings, a move that reflects an increasing acceptance of blockchain technologies within traditional financial frameworks. This tokenization initiative will begin with assets available on Hedera Hashgraph, XRPL, and Arbitrum, with potential expansions to additional blockchains. Increasing Interest and Adoption of Tokenized Funds The momentum towards tokenized real-world assets has become evident as traditional finance leaders embrace digital transformation. Noteworthy financiers, including BlackRock, Franklin Templeton, and Abrdn, have recently entered the space with their own tokenized fund offerings. This trend underscores the demand for innovative investment solutions and the advantages brought by blockchain technology, such as increased…

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Filed under: News - @ November 20, 2024 8:19 am