TechFlow news: Archax has announced a partnership with The HBAR Foundation to expand its range of fund shares by offering a tokenized version of BlackRock's ICS US Treasury Money Market Fund. This move builds on last year's launch of tokenized access to abrdn's MMFs.
These tokenized fund shares can be traded directly on the Archax platform or via connected networks.
The first trading of tokenized BlackRock MMF shares was completed on Ownera FinP2P's digital asset network. Archax can now offer investors the benefit of near-instant transfer of MMF shares, and these tokens can also be used for collateral transfers, going beyond traditional subscription/redemption mechanisms.
Graham Rodford, CEO of Archax, commented that money market funds from different asset managers may follow distinct underlying investment themes, making it essential to offer a diverse product range to meet client needs. Adding more funds to the tokenized MMF portfolio broadens their offerings and enables them to serve a wider spectrum of client demands.
