CoinVoice has recently learned that according to CoinDesk, Fidelity International has joined JPMorgan’s Tokenized Collateral Network (TCN) and cooperated with Onyx Digital Assets to tokenize money market fund (MMF) shares.
Fidelity International said the move is meant to improve efficiency in meeting margin requirements and reduce transaction costs and operational risks. Fidelity International also has a long history in the digital asset space, having partnered with Swiss bank Sygnum on a tokenization project as early as 2019.
It is reported that JPMorgan Chase's TCN started with the tokenization of money market stocks, a mutual fund that invests in high-quality short-term debt instruments and cash equivalents. The bank said it plans to expand to stocks, fixed income and a range of asset classes. [Original link]
