Archax, a UK-based FCA-regulated exchange, broker and custodian of digital assets, announced that it is adding funds from State Street, Fidelity International and LGIM to its tokenized real assets platform.
The exchange said it will issue and transfer real-asset tokens that represent its clients’ assets in these money market funds.
Initially, the focus will be on providing tokenized representations of funds such as State Street’s USD/GBP/EUR Liquidity LVNAV funds, ILF’s USD/Sterling/Euro Fidelity funds and LGIM’s Sterling/USD/Euro Liquidity funds. Over time, Archax said it plans to expand its offerings to include additional fund options.
Archax is backed by asset manager Abrdn. In 2023, Archax first began offering tokenized investments in Abrdn money market funds through its trading venue, using Hedera Hashgraph technology. The company first launched its first blockchain-based investment, tokenizing the Lux Sterling money market fund .
“Tokenized real-world assets, and funds in particular, are really gaining popularity,” – Graham Rodford, CEO and co-founder of Archax, said in a press release.
“The industry is seeing a path to the additional distribution and liquidity that tokenization brings, as well as new innovative use cases such as collateral transfer,” – Rodford said.
Archax said its “real possession tokens” will initially be available on Hedera Hashgraph, XRPL and Arbitrum. The company uses these blockchains to provide access to tokenized RWAs.
As tokenization gains popularity, platforms such as Archax are providing professional and institutional investors with access to liquidity. The funds are only available to qualified investors in the jurisdictions where they are registered.
