British exchange Archax launches BlackRock tokenized money market fund! HBAR surged over 100% in a single day

This site (120Btc.coM): Real World Assets (RWA) is a popular track that military strategists must compete for this year. Archax, the UK's first digital asset exchange regulated by the Financial Conduct Authority (FCA), announced today (24th) that it has cooperated with enterprise-level distributed ledger platforms Hedera and Ownera to provide tokenized "BlackRock ICS Money Market" Fund (Money Market Fund, MMF)" to expand its tokenized fund products.

Note: Archax launched the tokenized MMF of abrdn (the largest active asset management company in the UK) late last year.

Archax CEO and co-founder Graham Rodford said MMFs from different asset managers can follow different underlying investment philosophies - such as investing in short-term government debt issuances or commercial short-term debt issuances.

“It is therefore important to offer a range of products to meet different customer needs. Adding more funds to our tokenized equity portfolio of MMF products broadens the products we offer, allowing us to Able to serve a wider range of potential customers”

Aimed at professional and institutional investors

It is understood that the BlackRock MMF Tokenized Fund is issued on the Hedera network and is now available on For investment on the Archax platform, a total of three related products are provided. The minimum investment amount is set at US$5,000 and is limited to professional and institutional clients.

Official announcement is that the fund’s first transaction has been completed on the Ownera Fin P2P digital asset network.

Note: Ownera is a technology company focused on providing tokenized asset circulation. Their technology allows the connection between tokenized assets distributed by seller institutions and buyer needs, promoting global circulation and liquidity.

Ownera uses the Fin P2P protocol, an open protocol designed to support financial institutions in peer-to-peer transactions of assets globally, with particular emphasis on the protection of privacy and security during the transaction process, while ensuring Transaction speed and efficiency. The company is backed by strategic investors including JPMorgan and USBancorp.

Regarding the launch of the BlackRock MMF Tokenized Fund, the announcement explained that money market funds like BlackRock can provide more stable returns than other investments because they invest in short-term debt. and lower risk, so very popular.

They also help reduce the risk of relying on a single bank or stablecoin provider. Additionally, the creation of a secondary market for tokenized funds through platforms like Archax means that investors can transfer MMF throughout the day and almost instantly, an advantage that also allows it to be used as collateral rather than just traditional Subscription/Redemption.

Archax platform screen

In this regard, HBAR Foundation CEO Shayne Higdon said: With the support of Archax, tokenized MMF shares will be added to Hedera , a huge vote of confidence. Hedera’s unparalleled speed, security and low-cost infrastructure are ideally suited for Archax to enable institutional-grade tokenization of real-world assets.

$HBAR doubled in a single day

As soon as the news was released, Hedera’s native token $HBAR rose from about US$0.9. CoinGecko data shows that the price of $HBAR reached a maximum of $0.1832 at 8:30 today, doubling the maximum increase. It was now trading at $0.1744 before the deadline, soaring nearly 95% in the past 24 hours. The market value exceeded $6 billion, becoming a crypto currency. It ranks 24th in the currency market capitalization rankings, which is amazing.

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