Imagine a token that denotes ownership in a money-market fund, works like a yield-bearing stablecoin and can also be posted as collateral for trades. That’s where U.K. investment firm abrdn and regulated exchange Archax are in the race to tokenize traditional assets.Archax, one of the first crypto firms to be regulated by the Financial Conduct Authority (FCA), and abrdn, with $626 billion of assets under management, went live with an institutional-grade money-market fund token back in October. The two are now putting it to use, lining up customers looking for new and flexible ways to allocate capital.<\/p>\n
\u5927\u578b\u91d1\u878d\u516c\u53f8\u610f\u8bc6\u5230\uff0c\u901a\u8fc7\u5728\u533a\u5757\u94fe\u4e0a\u4ee3\u8868\u8d44\u4ea7\uff0c\u53ef\u4ee5\u5b9e\u73b0\u4e00\u7cfb\u5217\u8fd0\u8425\u6548\u7387\u548c\u6210\u672c\u8282\u7ea6\u7684\u6548\u76ca\uff0c\u4f46\u5f88\u5c11\u6709\u516c\u53f8\u80fd\u591f\u8d70\u51fa\u6982\u5ff5\u6d4b\u8bd5\u9636\u6bb5\u3002Archax\u662fFCA\u76d1\u7ba1\u7684\u65e9\u671f\u52a0\u5bc6\u516c\u53f8\u4e4b\u4e00\uff0c\u800cabrdn\u5219\u62e5\u67096260\u4ebf\u7f8e\u5143\u7684\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\uff0c\u4ed6\u4eec\u5728\u53bb\u5e7410\u6708\u63a8\u51fa\u4e86\u4e00\u4e2a\u673a\u6784\u7ea7\u522b\u7684\u8d27\u5e01\u5e02\u573a\u57fa\u91d1\u4ee3\u5e01\u3002\u4e24\u5bb6\u516c\u53f8\u73b0\u5728\u5f00\u59cb\u5229\u7528\u5b83\uff0c\u5438\u5f15\u5bfb\u6c42\u65b0\u7684\u7075\u6d3b\u8d44\u91d1\u914d\u7f6e\u65b9\u5f0f\u7684\u5ba2\u6237\u3002<\/p>\n
Clients have to be onboarded, wallets have to be whitelisted, and the token is available only to professional investors, Simon Barnby, Archax\u2019s chief marketing officer, said in an interview. But the tokenized tranche of the abrdn fund is available for as little as $5,000, potentially opening up the product to a new channel of investors.<\/p>\n
Archax\u9996\u5e2d\u8425\u9500\u5b98\u897f\u8499\u00b7\u5df4\u6bd4(Simon Barnby)\u5728\u63a5\u53d7\u91c7\u8bbf\u65f6\u8868\u793a\uff0c\u5ba2\u6237\u5fc5\u987b\u5b8c\u6210\u6ce8\u518c\uff0c\u94b1\u5305\u5fc5\u987b\u5217\u5165\u767d\u540d\u5355\uff0c\u4ee3\u5e01\u4ec5\u4f9b\u4e13\u4e1a\u6295\u8d44\u8005\u4f7f\u7528\u3002\u4f46abrdn\u57fa\u91d1\u7684\u4ee3\u5e01\u5316\u90e8\u5206\u6700\u4f4e\u53ef\u8fbe5000\u7f8e\u5143\uff0c\u53ef\u80fd\u4e3a\u65b0\u6e20\u9053\u7684\u6295\u8d44\u8005\u6253\u5f00\u4ea7\u54c1\u3002<\/p>\n
\u201cThere\u2019s about a $400 million pipeline of customers whose interest has been thoroughly piqued,\u201d Barnby said. \u201cWe\u2019re talking to a lot of payment firms, and a lot of people who are perhaps sitting on a stablecoin like USDC or USDT, which doesn\u2019t generate any yield. In previous years, when interest rates were low, treasury functions of businesses were not so worried about where the money was and if it was generating any return. But now they want to put their assets to work.\u201d<\/p>\n
\u5df4\u6bd4\u8868\u793a\uff1a\u201c\u5927\u7ea6\u67094\u4ebf\u7f8e\u5143\u7684\u5ba2\u6237\u8d44\u91d1\u5df2\u7ecf\u8868\u73b0\u51fa\u6d53\u539a\u7684\u5174\u8da3\u3002\u6211\u4eec\u6b63\u5728\u4e0e\u8bb8\u591a\u652f\u4ed8\u516c\u53f8\u4ee5\u53ca\u8bb8\u591a\u6301\u6709USDC\u6216USDT\u7b49\u7a33\u5b9a\u5e01\u7684\u4eba\u8fdb\u884c\u4ea4\u6d41\uff0c\u8fd9\u4e9b\u7a33\u5b9a\u5e01\u6ca1\u6709\u4ea7\u751f\u4efb\u4f55\u6536\u76ca\u3002\u201d\u5728\u8fc7\u53bb\uff0c\u5f53\u5229\u7387\u8f83\u4f4e\u65f6\uff0c\u4f01\u4e1a\u7684\u8d22\u52a1\u90e8\u95e8\u5e76\u4e0d\u592a\u62c5\u5fc3\u8d44\u91d1\u53bb\u5411\u53ca\u662f\u5426\u6709\u6240\u56de\u62a5\u3002\u4f46\u73b0\u5728\u4ed6\u4eec\u5e0c\u671b\u8ba9\u8d44\u4ea7\u53d1\u6325\u4f5c\u7528\u3002<\/p>\n
The onset of a higher interest-rate environment is changing patterns of innovation. Not only is this accelerating tokenization plans focused on low-hanging fruit like treasury bonds, it\u2019s also garnering a response from decentralized finance (DeFi), trending toward new models of yield-bearing stablecoins.<\/p>\n
\u9ad8\u5229\u7387\u73af\u5883\u7684\u5230\u6765\u6539\u53d8\u4e86\u521b\u65b0\u6a21\u5f0f\u3002\u8fd9\u4e0d\u4ec5\u52a0\u901f\u4e86\u4ee5\u56fd\u503a\u7b49\u4f4e hanging fruit \u4e3a\u91cd\u70b9\u7684\u4ee3\u5e01\u5316\u8ba1\u5212\uff0c\u8fd8\u5f15\u8d77\u4e86\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff08DeFi\uff09\u7684\u56de\u5e94\uff0c\u8d8b\u5411\u4e8e\u65b0\u6a21\u578b\u7684\u6536\u76ca\u7a33\u5b9a\u5e01\u3002<\/p>\n
Early next year, Archax will introduce trading pairs of the abrdn money-market fund (MMF) token and bitcoin (BTC). In other words, rather than trading BTC against the U.S. dollar or USDC, users can trade bitcoin against U.S. dollar MMF tokens.<\/p>\n
\u660e\u5e74\u521d\uff0cArchax\u5c06\u63a8\u51faabrdn\u8d27\u5e01\u5e02\u573a\u57fa\u91d1\uff08MMF\uff09\u4ee3\u5e01\u548c\u6bd4\u7279\u5e01\uff08BTC\uff09\u7684\u4ea4\u6613\u5bf9\u3002\u6362\u53e5\u8bdd\u8bf4\uff0c\u7528\u6237\u53ef\u4ee5\u4ea4\u6613\u6bd4\u7279\u5e01\u5151\u7f8e\u5143MMF\u4ee3\u5e01\uff0c\u800c\u4e0d\u662f\u4ea4\u6613\u6bd4\u7279\u5e01\u5151\u7f8e\u5143\u6216USDC\u3002<\/p>\n
\u201cThis is what happens in the DeFi world, where people borrow against assets, lend assets out,\u201d Barnby said. \u201cA token that represents ownership in the money-market fund could be used as collateral in an area like regulated DeFi, which is an area we\u2019re looking at for next year.\u201d<\/p>\n
\u5df4\u6bd4\u8868\u793a\uff1a\u201c\u8fd9\u5c31\u662f\u53d1\u751f\u5728DeFi\u4e16\u754c\u4e2d\u7684\u4e8b\u60c5\uff0c\u4eba\u4eec\u62b5\u62bc\u8d44\u4ea7\uff0c\u501f\u51fa\u8d44\u4ea7\u3002\u4ee3\u8868\u8d27\u5e01\u5e02\u573a\u57fa\u91d1\u6240\u6709\u6743\u7684\u4ee3\u5e01\u53ef\u4ee5\u4f5c\u4e3a\u62b5\u62bc\u54c1\u5728\u50cf\u53d7\u76d1\u7ba1\u7684DeFi\u8fd9\u6837\u7684\u9886\u57df\u4f7f\u7528\uff0c\u8fd9\u662f\u6211\u4eec\u660e\u5e74\u8981\u7814\u7a76\u7684\u9886\u57df\u3002\u201d<\/p>\n
The somewhat diminished DeFi universe is interesting, but it\u2019s just a speck on the landscape compared with the scale of traditional markets.<\/p>\n
DeFi\u9886\u57df\u7684\u53d1\u5c55\u867d\u7136\u6709\u4e9b\u51cf\u7f13\uff0c\u4f46\u4e0e\u4f20\u7edf\u5e02\u573a\u89c4\u6a21\u76f8\u6bd4\uff0c\u5b83\u53ea\u662f\u4e00\u4e2a\u5fae\u4e0d\u8db3\u9053\u7684\u5b58\u5728\u3002<\/p>\n
Abrdn has a long pipeline of financial products to tokenize, the firm\u2019s alternative investments leader Duncan Moir pointed out, but wanted to start out with \u201csomething straightforward,\u201d where there’s already demand, with the expectation it would be for the crypto native investors.<\/p>\n
abrdn\u7684\u53e6\u7c7b\u6295\u8d44\u8d1f\u8d23\u4eba\u9093\u80af\u00b7\u83ab\u5c14(Duncan Moir)\u6307\u51fa\uff0cabrdn\u6709\u4e00\u957f\u4e32\u91d1\u878d\u4ea7\u54c1\u53ef\u4ee5\u4ee3\u5e01\u5316\uff0c\u4f46\u5e0c\u671b\u4ece\u201c\u4e00\u4e9b\u7b80\u5355\u7684\u4e1c\u897f\u201d\u5f00\u59cb\uff0c\u56e0\u4e3a\u5df2\u7ecf\u6709\u9700\u6c42\uff0c\u9884\u8ba1\u5c06\u9762\u5411\u52a0\u5bc6\u539f\u751f\u6295\u8d44\u8005\u3002<\/p>\n
\u201cSwap dealers accept money-market funds, so it could be used to post margin on a swap, for example,\u201d Moir said. \u201cLooking ahead, I’ll be interested to see if it can be used for settlement of tokenized securities. I can certainly imagine a future where there are other tokenized funds, and this as the cash asset you\u2019re trading against makes a lot of sense.\u201d<\/p>\n
\u83ab\u5c14\u8868\u793a\uff1a\u201c\u6389\u671f\u4ea4\u6613\u5546\u63a5\u53d7\u8d27\u5e01\u5e02\u573a\u57fa\u91d1\uff0c\u56e0\u6b64\u5b83\u53ef\u4ee5\u7528\u4e8e\u4f8b\u5982\u5728\u6389\u671f\u4e0a\u8fdb\u884c\u4fdd\u8bc1\u91d1\u62b5\u62bc\u3002\u5c55\u671b\u672a\u6765\uff0c\u6211\u5c06\u6709\u5174\u8da3\u770b\u5230\u5b83\u662f\u5426\u53ef\u4ee5\u7528\u4e8e\u7ed3\u7b97\u4ee3\u5e01\u5316\u8bc1\u5238\u3002\u6211\u5f53\u7136\u53ef\u4ee5\u60f3\u8c61\u672a\u6765\u4f1a\u6709\u5176\u4ed6\u4ee3\u5e01\u5316\u57fa\u91d1\uff0c\u8fd9\u4f5c\u4e3a\u4f60\u4ea4\u6613\u5bf9\u624b\u7684\u73b0\u91d1\u8d44\u4ea7\u662f\u975e\u5e38\u5408\u7406\u7684\u3002\u201d<\/p>\n
In conclusion, the emergence of tokenized traditional assets offers new opportunities for investors, especially in the intersection of traditional finance and decentralized finance. It also reflects the increasing demand for flexible and efficient capital allocation solutions in today’s market environment. As the industry continues to evolve, it will be crucial to navigate the regulatory landscape and ensure responsible and sustainable innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Imagine a token that denotes ownership in a money-marke […]<\/p>\n","protected":false},"author":1,"featured_media":796,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=\/wp\/v2\/posts\/797"}],"collection":[{"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=797"}],"version-history":[{"count":0,"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=\/wp\/v2\/posts\/797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=\/wp\/v2\/media\/796"}],"wp:attachment":[{"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bot.cryptoinn.trade\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}