Assets manager Vaneck launched his first tokenized background, joining a list of institutions entering the race to bring assets in the chain with tokenziation.
Vaneck Treasury Fund (VBill), developed with Securitize tokenization specialist, offers chain access to the United States Treasury debt in the short term and is available in Avalanche Avax$25.71BNB chain BNB$663.87Ethereum Eth$2,673.84 and Solana SUN$183.16 Networks, according to a press release on Tuesday.
“By bringing the United States Treasury bonds in the chain, we are providing investors for a safe, transparent and liquid tool for cash management, including further digital assets in conventional financial markets,” said Kyle Dacruz, director of digital asset products in Vaneck, in a state. “Tokenized funds such as VBill are improving the liquidity and market efficiency, which underlines our commitment to provide value to our investors.”
Vaneck, who also issues Bitcoin BTC$104,005.15 and ether Eth$2,673.84 ETFS, follows in the steps of Blackrock, Franklin Templeton and other traditional financial companies that launch tokenized products. Tokenization is the process of placing instruments such as bonds, credit, basic products, real estate in Token Blockchain rails to achieve faster settlements, cheaper transactions and operational efficiencies.
The tokenization of the United States Treasury Bonds, a traditional reserve asset, has been at the forefront of these efforts. Now it is a market of almost $ 7 billion, which grows more than 500% during the last year, according to RWA.XYZ data.
VBILL is accessible to qualified investors with a minimum investment of $ 100,000 in most block chains, with a minimum subscription of $ 1 million in Ethereum. Fund assets are in the hands of State Street and have a daily price using Drachle Data data from Redstone.
The Token admits around the clock ramp with the Circle USDC stable. It also offers atomic liquidity with AGUD Stablecoin de Agora, which means that VBill tokens can be exchanged for AUD in a single transaction through an intelligent contract. Agora is a Stabrup Stablecoin directed by Nick Van Eck, the grandson of the founder of Vaneck.
