Archax to Offer Tokenized Money Market Funds from State Street, Fidelity and LGIM

Archax, a cryptocurrency exchange and custodian regulated by the UK, has added funds from State Street, Fidelity International, and Legal & General Investment Management (LGIM) to its range of tokenized real-world assets (RWA).

Initially, the company will provide tokenized access to certain State Street Global Advisors, Fidelity International, and LGIM money market funds. The company stated that it may add other types of funds in the future.

Archax will issue tokens representing beneficial ownership, which represent clients' holdings in these funds. These blockchains will initially be available on Hedera Hashgraph, XRPL, and Arbitrum, with other blockchains potentially following suit.