Abrdn and Archax Launch Tokenized Money Market Fund That Works Like Yield-Bearing Stablecoin
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Abrdn and Archax have created a tokenized money-market fund that works like a yield-bearing stablecoin and can be used as collateral.
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The token is now live and they are lining up institutional customers looking for new ways to allocate capital.
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The token is available for as little as $5,000, opening it up to new investors compared to traditional money market funds.
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Next year Archax plans to introduce trading pairs between the abrdn token and bitcoin.
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The abrdn token could also be used as collateral in regulated DeFi, which Archax plans to look into next year.