Galaxy Digital plans to launch a multi-chain tokenized money market fund

ChainCatcher news, according to CoinDesk, Mike Novogratz's digital asset investment firm Galaxy Digital is preparing to launch a tokenized money market fund, which will gradually go live on the three major blockchains: Ethereum, Solana, and Stellar, expected to be launched in the coming months.

According to insiders, Anchorage Digital will serve as the custodian for the fund. Galaxy Digital's move aims to bring more crypto-native products to the market, complementing the tokenized funds launched by traditional financial institutions such as BlackRock's BUIDL (with a market cap of approximately $2.2 billion) and Franklin Templeton's BENJI.

Galaxy Digital representatives declined to comment on the fund. The fund will focus on providing instant liquidity through tokenization technology and optimizing user participation by drawing on experiences from existing products.