Archax, the FCA regulated digital asset exchange, broker and custodian, today announced that it has created a tokenised representation of its interests in the Aberdeen Standard Liquidity Fund (Lux) – Sterling Fund, abrdn’s flagship £multi-billion money market fund, leveraging the Hedera Hashgraph DLT of which abrdn is a governing council member.
Russell Barlow, Global Head of Alternatives at abrdn, comments: “We made the investment into Archax because we see the future for financial markets lies with leveraging new technologies, such as Web 3.0 and DLT. It is exciting to see a tangible application of Archax’s tokenisation engine working with Hedera and it paves the way for us to look at creating other digital, blockchain-based token investment solutions.”
Graham Rodford, CEO and co-founder of Archax, adds: “Creating a token representation of our interest in such a traditional and institutional-grade vehicle opens up all sorts of interesting opportunities in the digital asset space. We are exploring other applications with abrdn to improve access to investment products in this space in the near future.”
“We are excited to be working on this with abrdn, and we also have projects underway with a number of other traditional financial institutions to leverage the opportunities that Web 3.0 and tokenisation present”, concludes Rodford.