Alloyx, a Stablecoin infrastructure firm based in Hong Kong, has introduced a tokenized money market called Ryt, debuted in Ethereum Scaling Network Polygon with custody services provided by Standard Chartered Bank.
Unlike traditional tokenized money funds, which offer passive exposure, RyT is integrated with decentralized finances (DEFI) to create performance improvement strategies, while maintaining within a recognizable compliance framework for auditors and regulators, Alloyx said in a press release on Thursday.
The Stablecoin ecosystem has been growing exponentially in recent years to a market capitalization of $ 280 billion according to Defillama data. The USDT and the USDC of the Tether Circle are still the dominant stable that represent more than 80% of the sector.
Last month, Alloyx was acquired by Solowin Holdings (Swin), a Hong Kong -based investment holding firm based on Hong Kong, for $ 350 million to reinforce an expansion in emerging markets.
The agreement promises liquidation cycles T+1, which means that values ​​transactions resolve a business day after the commercial date, and the release of data from selected funds in the chain, which provides investors for greater transparency while maintaining operations within a regulated framework.
Polygon Labs is supporting the deployment with technical integration and ecosystem growth efforts. Ryt will remain exclusive to Polygon during his initial launch period before expanding to other networks, companies said.
“With the polygon -based loop to amplify the tokenized MMF rails of public and bank degree grade that supply the underlying cash component, RyT aims to defense with a transparent and audited cash management layer, while maintaining the emission, custody and reconciliation in a regulated group,” said Dr. Thomas Zhu Alloyx.
