Major

Hedera

<ul class="wp-block-list">
 <li>Archax partners with State Street, Fidelity, and LGIM to offer tokenized money market funds.</li>
 <li>Archax will issue tokens representing beneficial ownership of their fund investments.</li>
</ul>
Archax, a UK-regulated cryptocurrency exchange and custodian, is venturing into the <a href="https://thenewscrypto.com/rwas-gain-momentum-in-defi-as-investors-seek-stability/" target="_blank" rel="noopener noreferrer nofollow">tokenization of real-world assets</a> (RWAs). Today, the platform <a href="https://x.com/ArchaxEx/status/1859168641628942644" target="_blank" rel="noopener noreferrer nofollow">announced</a> plans to offer tokenized money market funds from three global financial giants—State Street, Fidelity International, and Legal &amp; General Investment Management (LGIM).
This marks a significant step in Archax’s mission to bring traditional finance closer to the blockchain world. Initially, the platform will tokenize specific funds from these institutions, giving clients tokenized access to their holdings.&nbsp;
Further, these “beneficial ownership tokens” will be available on leading blockchains such as Hedera Hashgraph, XRPL, and Arbitrum. There is potential for more blockchains to join in the future.
This move follows Legal &amp; General, which dived into the tokenization space last month, signaling growing interest in digital finance solutions.&nbsp;
In addition, Archax’s collaboration with <a href="https://thenewscrypto.com/bitget-re-enters-uk-market-with-150-tokens-following-fca-approval/" target="_blank" rel="noopener noreferrer nofollow">Bitget</a>, which has re-entered the UK market through Archax’s partnership, adds another layer of credibility, with being an FCA-approved entity. As tokenization of RWAs continues to gain traction, Archax may be in a favorable position to contribute to the future of digital asset investment.
Highlighted Crypto News Today
<a href="https://thenewscrypto.com/doge-shows-bullish-signs-after-bitcoins-record-surge/" target="_blank" rel="noopener noreferrer nofollow">DOGE Shows Bullish Signs After Bitcoin’s Record Surge</a>

Archax Launches Tokenized Money Market Funds with Major Financial Giants

TheNewsCrypto

Other articles published on Nov 20, 2024

Solana Open Interest Nears $5 Billion as SOL Price Battles $245 Resistance

Crypto Market Experiences Bull Run as Pro-Crypto Policies Support Growth

BlackRock’s Tokenized Fund BUIDL Now Available on Aptos, Arbitrum, and More Blockchains

A Creator’s Memecoin Saga on Solana Sparks a $100M Frenzy

Bitcoin Reached New ATH and Lack of FOMO Suggests $100K Is Next

Terra Luna Classic Weekly Volume Hits 2.27T: Is a LUNC Price Surge to $0.0005 Imminent?

Join our free newsletter for daily crypto updates!