The HBAR Foundation invests in Fidelity International's tokenized US dollar money market fund.
Powered by ChatGPTAccording to a report from Shenchao TechFlow on February 21, the HBAR Foundation announced an investment in the Fidelity International Dollar Money Market Fund (MMF) shares, which have been tokenized by Archax, as per the official announcement. The fund has completed tokenization on the Hedera network and is distributed by Archax, the UK’s first FCA-regulated digital asset exchange.
These tokenized shares will be available for trading on the Archax platform and can be used as "proof of reserves" for stablecoin backing. Gregg Bell, Senior Vice President of the HBAR Foundation, stated that the tokenization of physical assets will become a key catalyst for blockchain adoption by 2025.
Emma Pecenicic, Head of Digital Business at Fidelity International, emphasized that this initiative aims to connect traditional finance with decentralized finance through fund tokenization.