XDC Network collaborate with Archax to launch money market fund tokens
24 February 2025 UK
Image: stock.adobe.com/JairoMZ
In collaboration with Archax, XDC Network has launched the first tokenised funds on its platform.
The first fund tokens represent four money market funds (MMFs) from providers including abrdn, Fidelity International, BlackRock and State Street.
By bringing these investment vehicles onto the blockchain, XDC Network and Archax hope to improve liquidity, create faster settlement, and reduce operational costs.
Keith O’Callaghan, head of asset management and structuring at Archax, says: “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.”
Angus O’Callaghan, head of trading and markets at XDC Network, adds: “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.”
The first fund tokens represent four money market funds (MMFs) from providers including abrdn, Fidelity International, BlackRock and State Street.
By bringing these investment vehicles onto the blockchain, XDC Network and Archax hope to improve liquidity, create faster settlement, and reduce operational costs.
Keith O’Callaghan, head of asset management and structuring at Archax, says: “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.”
Angus O’Callaghan, head of trading and markets at XDC Network, adds: “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.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
