AI Summary
- Archax, the first registered cryptocurrency exchange in the United Kingdom, has added tokenized money market funds from State Street, Fidelity International, and Legal & General Investment Management (LGIM).
- The tokenized funds will launch on Hedera Hashgraph (HBAR), Ripple’s XRP Ledger, and Arbitrum (ARB), one of Ethereum’s largest layer 2 networks. The tokenized funds are available through Archax, leading real-world asset tokenization efforts and tokenizing money market funds. .
- The rollout of tokenized real-world assets from Fidelity, State Street, and LGIM, will be listed on the Archax platform utilizing blockchain technology from Hedera Hashgraph, Ripple, and Arbitrum. Archax is the first ever digital exchange to be fully regulated by the FCA (Financial Conduct Authority) in London, UK. The exchange is targeted at institutions and businesses that want to expand and make use of digital assets and potentially, real-world assets.
- During the episode, we spoke to Rodford about how his platform is leveraging tech from Hedera Hashgraph, Algorand, and Ripple’s XRP to tokenize real-world assets and bring them to a wider audience. Speaking on Archax’s recent news, Graham Rodford highlighted how RWA’s are gaining momentum in the financial world.
Archax, the first registered cryptocurrency exchange in the United Kingdom, has added tokenized money market funds from State Street, Fidelity International, and Legal & General Investment Management (LGIM).
The tokenized funds will launch on Hedera Hashgraph (HBAR), Ripple’s XRP Ledger, and Arbitrum (ARB), one of Ethereum’s largest layer 2 networks.Â
The tokenized funds are available through Archax, leading real-world asset tokenization efforts and tokenizing money market funds.Â
Tokenizing the real world with HBAR, Ripple XRP & Arbitrum
The rollout of tokenized real-world assets from Fidelity, State Street, and LGIM, will be listed on the Archax platform utilizing blockchain technology from Hedera Hashgraph, Ripple, and Arbitrum.Â
Archax is the first ever digital exchange to be fully regulated by the FCA (Financial Conduct Authority) in London, UK.Â
The exchange is targeted at institutions and businesses that want to expand and make use of digital assets and potentially, real-world assets. The exchange also has permissions for an FCA brokerage and cryptocurrency custody permissions.Â
The Archax mission & Real world assetsÂ
Tokenizing money market funds (MMFs) using blockchain technology is becoming more attractive as it makes such investments more accessible to a wider audience.Â
An example would be Euro-pegged stablecoins or the USD being tradable by anyone with access to a web3 wallet or crypto exchange account.
According to Archax, tokens that represent MMFs can be used as collateral in transactions between various parties, allowing for greater flexible payments and exchanges.
In August, we sat down with Archax CEO and co-founder Graham Rodford for an All in Crypto Podcast episode.
During the episode, we spoke to Rodford about how his platform is leveraging tech from Hedera Hashgraph, Algorand, and Ripple’s XRP to tokenize real-world assets and bring them to a wider audience.Â
Speaking on Archax‘s recent news, Graham Rodford highlighted how RWA‘s are gaining momentum in the financial world.
Tokenised real-world assets, and in particular funds, are really gaining momentum. The industry sees the path to additional distribution and liquidity that tokenisation brings, as well as the new innovative use cases like collateral transfer.
We are really pleased to be expanding our offerings by working with blue-chip industry leaders and are excited to be adding the State Street Global Advisors, Fidelity International and LGIM names to our growing list of partners.
