Abrdn, State Street, Fidelity and BlackRock Money Market Funds Now Tokenised on XDC Network

XDC Network, an enterprise-grade Layer-1 blockchain, today announced the launch of the first funds on its platform in token form in collaboration with Archax

Four of the world’s largest money market funds (MMFs) have been launched in a tokenised format on the XDC Network, marking a significant step in the institutional adoption of crypto.

The funds, managed by abrdn, Fidelity International, BlackRock, and State Street, are now available on the Archax digital asset exchange, following a partnership between XDC and Archax for real-world asset (RWA) tokenisation.

These MMFs are among the first funds to be offered in a tokenised format, paving the way for broader institutional access to a diverse range of tokenised assets in the future.

“Providing digital representations of major MMFs opens up a potential new audience for these types of yield-bearing products that historically have been challenging for some to access,” said Keith O’Callaghan, Head of Asset Management and Structuring at Archax.

“We’re excited to hit this milestone with XDC Network, a firm that is poised to become one of the railways of the future of the finance industry.”

The implementation leverages XDC Network’s delegated proof-of-stake consensus mechanism, enabling transactions with sub-second finality and near-zero gas fees.

The platform’s enterprise-grade infrastructure aims to meet compliance with institutional requirements for security, scalability, and regulatory reporting.

“With our platform’s robust performance and functionality, we have the ideal protocol for real-world asset tokenisation for institutions who want to work with regulated entities like Archax,” said Angus O’Callaghan, Head of Trading and Markets at XDC Network.

“We’re excited to be taking this next step in our partnership with Archax and unlock access to some of the world’s largest MMFs with transparency and efficiency.”

This listing is the latest in the ongoing partnership between Archax and XDC Network.

Together, the firms combine the power of a regulated digital asset platform with innovative blockchain solutions to enable financial institutions – like the leading MMFs – to access tokenised RWAs cost-effectively and efficiently.

In partnership, these crypto leaders are bridging traditional finance and blockchain innovation to broaden digital asset adoption and revolutionise global financial markets.