ALOYX, a Hong Kong-based stableCOin infrastructure company, has introduced a tokenized money market fund called ryt, debuted at Ethereum Scaling Network Polygon with custody services provided by Standard Chartered Bank.
Contrary to traditional tokenized money market funds that offer passive exposure, ridal is integrated with decentralized financing (DEFI) to create dividend -enhancing strategies while remaining within an observance framework recognized for auditors and regulators, Alloyx said in a press release on Thursday.
The StableCOin ecosystem has grown exponentially in the last few years to a market value of $ 280 billion according to Defillama data. Tether’s Usdt and Circle’s USDC remains the dominant stableecoins that make up over 80% of the sector.
Last month, Alloyx was acquired by Solowin Holdings (Swin), a Hong Kong-based, listed investment that held the company, for $ 350 million to strengthen an expansion to new markets.
The deal promises T+1 settlement cycles, which means that securities transactions run a working day after the trading date and the release of selected fund data on-chain, giving investors greater transparency while keeping operations within a regulated framework.
Polygon Labs supports the rollout with technical integration and ecosystem growth efforts. Ryte will remain exclusive to polygon in its initial launch period before expanding to other networks, companies say.
“With polygon-based looping to reinforce the tool and banking tokenized MMF rails, which delivers the underlying cash component, the Ryte is aiming to bridge defi-liquidity with a transparent, revised cash management-mens. Thomas Zhu, Med-Fants and CEO of Alloyx.
