- Archax partners with State Street, Fidelity, and LGIM to offer tokenized money market funds.
- Archax will issue tokens representing beneficial ownership of their fund investments.
Archax, a UK-regulated cryptocurrency exchange and custodian, is venturing into the tokenization of real-world assets (RWAs). Today, the platform announced plans to offer tokenized money market funds from three global financial giants—State Street, Fidelity International, and Legal & 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.
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 & General, which dived into the tokenization space last month, signaling growing interest in digital finance solutions.
In addition, Archax’s collaboration with Bitget, 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.
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