Archax, a U.K.-regulated cryptocurrency exchange, has announced the addition of tokenized money market funds from State Street, Fidelity International, and Legal & General Investment Management (LGIM) to its platform. This move is part of the growing trend of tokenizing real-world assets (RWAs) as traditional financial firms like these giants enter the tokenization space. Initially, Archax will provide tokenized access to specific money market funds from these institutions, with the assets being available on the Hedera Hashgraph, XRPL, and Arbitrum blockchains. The exchange will issue beneficial ownership tokens representing clients' holdings in these funds, and more fund types may be added in the future. Archax believes that tokenization enhances distribution, liquidity, and introduces innovative use cases such as collateral transfer. Recently, Archax also agreed to acquire King & Shaxson Capital Markets, pending regulatory approval, further expanding its offerings in the blockchain space.

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