Galaxy Digital (GLXY), the digital asset investment firm directed by Mike Novograph, plans to launch a tokenized money fund, according to two people familiar with the plan.
The company based in New York City aims to bring a more cryptographic turn to the range of traditional offers of tokenized funds with finance, such as Buidl de Blackrock and Benji Token from Franklin Templeton, said the people who declined to be identified.
The Galaxy fund, which will debut in the coming months, will ultimately be available in Ethereum, Solana and Stellar Blockchains. That said, the first day will not appear in the three block chains, according to one of the people. Anchorage Digital will be the custodian of the new background.
“The general ambition is to use the power of tokenization to offer instant liquidity, and there is a lot of innovation around that to come,” said the person. “Galaxy has had the benefit of seeing Buidl and some of the others in the market, and seeing who is getting involved with these funds, how they commit to them and how that could be better.”
A Digital Galaxy representative declined to comment on the fund. Anchorage Digital did not immediately respond to comments requests.
Blackrock Buidl fund, which now has a market capitalization of around $ 2.2 billion, was launched in the Solana block chain in March after debuting on Ethereum.
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