Archax will provide a tokenized money market fund supported by State Street, Fidelity International, and LGIM

ChainCatcher news, according to Coindesk, the UK compliant crypto exchange Archax has 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, and will represent asset ownership through tokenized rights held by customers. 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.

Previous news, Archax has also acquired the Spanish brokerage firm King & Shaxson Capital Markets (KSCM), and the deal is pending approval from Spanish regulatory authorities.