ChainCatcher news, according to Coindesk, the UK compliant crypto exchange Archax announced that it will offer tokenized money market funds supported by State Street, Fidelity International, and Legal & General Investment Management (LGIM).
The first batch of tokenized assets will be issued on the Hedera Hashgraph, XRPL, and Arbitrum blockchains, represented through tokenized rights held by customers to signify asset ownership. In the future, Archax also plans to add more types of fund products. It is worth mentioning that traditional financial giants such as BlackRock, Franklin Templeton, and Abrdn have also launched tokenized funds.
Previously, Archax also acquired the Spanish brokerage King & Shaxson Capital Markets (KSCM), and the deal is pending approval from Spanish regulators.
