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Tradias, the fintech technology arm of Bankhaus Scheich, has tokenized its money market fund, Allianz Securicash SRI Fund. The Dutch cryptocurrency trading platform invested in the token as part of its financial management. Similar to other tokenized money market funds, the amount issued will increase over time depending on demand. The initial amount was not disclosed.
As Bankhaus Scheich is one of the leading market makers on the Frankfurt Stock Exchange, the issuance will use an existing regulatory license.
In this case, the touted benefits are the ability to trade tokens 24/7 and the cost structure. But given that he is currently a one-time token, the question is who can he trade with? In the same way that Tradias provides an API and user interface for trading Bitcoin or his ETH, it also provides prices for tokenized money market funds. Additionally, we plan to make the token available via other platforms as well.
“We provide an advanced solution for managing liquidity in tokenized money market funds,” said Michael Reinhardt, CEO of tradias. “Investors and individuals investing in cryptocurrencies and digital assets now have the opportunity to manage liquid funds based on tokens while achieving returns comparable to money market.”
Other tokenized money market funds
To date, most money market funds tokenized on public blockchains are based on investments from the United States. Stablecoins have proven popular because they do not pay interest.
Examples include Franklin Templeton’s OnChain Government Money fund (market cap $324 million) and Ondo Finance’s tokenization of the iShares Treasury Bill ETF (market cap $113 million).
In some ways, tradias tokenization is somewhere in between the two. On the one hand, Franklin Templeton is a highly regulated asset management company and Bankhaus Scheich is a regulated bank. In contrast, Ondo Finance has limited oversight. However, Ondo is tokenizing existing funds that it does not manage, and so is tradias.
The tokenization of tradias was done on the Polygon blockchain.
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