So, CMB International and some company DigiFT decided, “Hey, why not turn a boring old money market fund into a shiny digital token?” Brilliant, right? Now you can supposedly buy it on Solana, Ethereum, Arbitrum, and Plume. Because why not multiply the confusion? 🚀
No more fancy formatting, just the facts… sort of
Here’s the scoop:
- The MMF is the big cheese in Asia-Pacific, ranked number one by Bloomberg. Which means nothing, but hey, it sounds impressive. Only available to the rich and famous in Singapore – the “accredited investors,” or as I call them, the ‘Whales’.
- Subscribing and redeeming your “investments” can be done with fiat or stablecoins, and get this – it’s all real-time on the blockchain. Because who doesn’t want instant access to their money, right? 🙄
- DigiFT’s the middleman here, doing the issuance and distribution – you know, the usual… and CMBIAM’s in charge of the fund itself. Tech with a side of money magic.
So, the big idea? They’re making a money market fund that’s not just on paper but *on-chain*. It’s the first publicly offered one of these on Solana, regulated and everything. Looks like regulators finally woke up and said, “Okay, this is legit enough.”
The fund’s now available exclusively to Singapore’s elite investors, probably because they like to keep things – how do I say? – ‘exclusive’ and complicated enough to make your head spin. And it’s multi-chain, so it’s like a digital buffet; take your pick: Solana, Ethereum, Arbitrum, Plume. Whatever works; it’s all shiny and new! ✨
DigiFT takes care of the on-chain stuff – issuing tokens, managing liquidity, the whole shebang. Meanwhile, CMB manages the “underlying” fund. Investors can swap their US dollars or stablecoins almost instantly, no long waits. Classic instant gratification in the crypto era. 💸
In Case You Were Wondering – More Tokenized Money Funds Are A Thing Now
Turns out, this isn’t the first rodeo. Franklin Templeton already brought its OnChain U.S. Government Money Fund (FOBXX) onto Solana, after starting on Stellar. Now it’s all over the place – Ethereum, Avalanche, Arbitrum, and so on. Because apparently, everyone’s trying to do the same thing: turn old funds into digital coins and make everyone think they’re cutting-edge.
Oh, and BlackRock jumped in too. Their BUIDL fund is now on Solana and others, worth over a billion and a half bucks – talk about a toe in the water of crypto turkey. Managed with Securitize, because nothing screams “trust” like a big ticker company and a tokenization platform teaming up.
Bottom line? CMB I’s fund might just be the ‘first’ recognized in Asia-Pacific on Solana, making this network a real player in regulation-land. Or so they say. Just don’t ask me if I understand it all – I’ve lost track.
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2025-08-14 10:20