Fidelity Investments has rolled its tokenized money market fund at Ethereum Blockchain, which marks the Boston-based investment control giant’s input into the rapidly growing tokenized asset field.
About $ 202 million in Fidelity Digital Interest tokens (FDIT) Was embossed blockchain in early September, Blockchain Data on Etherscan shows. FBIT is the Token Representation of Fidelity Treasury Digital Fund (FYOXX), the on-chain share class in Fidelity Treasury Digital Fund (FYHXX) that seeks to benefit investors by holding US treasury. Asset Manager first revealed the facility in March in a regulatory archiving for the US Securities and Exchange Commission (SEK).
The most important investor in the offer is tokenization platform ondo finance, which has $ 202 million in the FBIT as a reserve active for its OUSG yield-defending token, Ondo’s daily report shows. OUSG uses a number of tokenized money market funds, including Buidl of Blackrock and Securitize, Franklin Templeton’s Benji and WisDomtree’s WTGXX to support the value of the token.
Tokenized Treasury boom
Tokenization of government debt, a crucial security active in global markets, is part of a wider push to bring financial instruments or assets in the real world (RWA)on blockchain rails. Global banks and asset managers like Fidelity Investments are exploring tokenization to cut conciliation times, increase transparency and keep markets open around the clock.
The market for tokenized US Treasury is growing rapidly, more than tripling in the last year to $ 7.5 billion, RWA.xyz data shows. Blackrock and Tokenization Specialist Securitize dominates the market with the $ 2.4 billion buidl -tooken, followed by offers by Franklin Templeton and WisDomtree.
These symbols are increasingly used as an important piece of infrastructure for yield earning strategies and security in the crypto economy.
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