{"id":29657,"date":"2024-04-24T14:00:56","date_gmt":"2024-04-24T14:00:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/archax-ownera-and-hedera-collaborate-to-tokenize-blackrock-money-market-fund\/"},"modified":"2024-04-24T14:00:56","modified_gmt":"2024-04-24T14:00:56","slug":"archax-ownera-and-hedera-collaborate-to-tokenize-blackrock-money-market-fund","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/archax-ownera-and-hedera-collaborate-to-tokenize-blackrock-money-market-fund\/","title":{"rendered":"Archax, Ownera and Hedera collaborate to tokenize BlackRock money market fund"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1665561579668-966bea38-6827-4011-8e45-f9484b75fe4a-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1665561579668-966bea38-6827-4011-8e45-f9484b75fe4a-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1665561579668-966bea38-6827-4011-8e45-f9484b75fe4a-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1665561579668-966bea38-6827-4011-8e45-f9484b75fe4a-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400;\">Archax, Ownera and The HBAR Foundation have enabled the first tokenization of BlackRock\u2019s money market fund (MMF) on Hedera.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">This is a major development in the real-world assets (RWAs) industry and comes after abrdn plc tokenized its MMFs on Hedera last year.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The crypto world has witnessed a historic moment in the real-world assets (RWAs) industry after Archax, a London-based digital asset exchange, broker and custodian, tokenized the BlackRock ICS US Treasury money market fund (MMF) on the <a href=\"https:\/\/coinjournal.net\/hedera\/\">Hedera (HBAR) blockchain<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Archax collaborated with the HBAR Foundation and the institutional-grade digital assets platform Ownera to bring the MMF to Hedera. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to details in an <a href=\"https:\/\/blog.archax.com\/resources\/archax-increases-tokenised-money-market-fund-offerings\" target=\"_blank\" rel=\"noopener\">announcement<\/a>, the milestone follows Hedera Council member abrdn\u2019s successful tokenization of its MMFs on Hedera last year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">abrdn is the largest active wealth manager in the UK and its flagship tokenized funds marked a major milestone in the asset management industry.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today we witness <a href=\"https:\/\/twitter.com\/hashtag\/RWA?src=hash&amp;ref_src=twsrc%5Etfw\">#RWA<\/a> history as <a href=\"https:\/\/twitter.com\/BlackRock?ref_src=twsrc%5Etfw\">@BlackRock<\/a>\u2019s ICS US Treasury money market fund (MMF) is tokenized on <a href=\"https:\/\/twitter.com\/hedera?ref_src=twsrc%5Etfw\">@Hedera<\/a> with <a href=\"https:\/\/twitter.com\/ArchaxEx?ref_src=twsrc%5Etfw\">@ArchaxEx<\/a> and <a href=\"https:\/\/twitter.com\/OwneraIO?ref_src=twsrc%5Etfw\">@OwneraIO<\/a>, marking a major milestone in asset management by bringing the world\u2019s largest asset manager on-chain \ud83c\udfe6 <a href=\"https:\/\/t.co\/1Kye8cjAJx\">pic.twitter.com\/1Kye8cjAJx<\/a><\/p>\n<p>\u2014 HBAR Foundation (@HBAR_foundation) <a href=\"https:\/\/twitter.com\/HBAR_foundation\/status\/1782759384742813951?ref_src=twsrc%5Etfw\">April 23, 2024<\/a><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400;\">Hedera\u2019s growing RWA adoption<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The RWAs sector is getting a big boost from MMFs, which offer suitable investment vehicles for investors with institutional stability and yield.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With tokenised MMFs allows for the trading of their shares on exchanges such as Archax and provide extra benefits that include instantaneous transfer and deployment as collateral rather than just being used for traditional subscriptions and redemptions.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cThe addition of MMF shares tokenized on Hedera, enabled by Archax, is a huge vote of confidence. Hedera\u2019s unmatched speed, security, and low-cost infrastructure is ideally suited for the institutional-grade tokenization of real-world assets made possible by Archax,\u201d Shayne Higdon, CEO of The HBAR Foundation, said in a statement.<\/span><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400;\">HBAR price soars to 4-week high<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">HBAR price surged after the news, rising more than 46% to reach highs of $0.1314 on Tuesday. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The token changed hands at around $0.087 before the news and is currently sitting at its highest level since March 27. Data from CoinGecko shows HBAR\u2019s 24-hour trading volume has spiked more than 600% to over $346 million.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/archax-ownera-hedera-collaborate-tokenize-blackrock-mmf\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Archax, Ownera and The HBAR Foundation have enabled the first tokenization of BlackRock\u2019s money market fund (MMF) on Hedera. This is a major development in the real-world assets (RWAs) industry and comes after abrdn plc tokenized its MMFs on Hedera [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":29658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29657"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=29657"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/29658"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=29657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=29657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=29657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}