Investment strengthens HBAR Foundation's role in institutional tokenization, while supporting Fidelity International's digital assets' distribution strategy

For professional investors only. Capital at risk.

LONDON, Feb. 21, 2025 /PRNewswire/ -- The HBAR Foundation today announces an investment in Archax's tokens representing Fidelity International's United States Dollar (USD) Money Market Fund (MMF) shares*. This investment follows the recent tokenization of the MMF on the Hedera network by Archax, the first FCA-regulated digital asset exchange, broker, and custodian, which serves as the distributor for Fidelity International's fund.

These tokenized shares are available on the Archax platform, allowing investors to gain exposure to the asset through blockchain-powered mechanisms. The development also enables tokenized securities to serve as transparent "Proof-of-Reserves" for stablecoin treasury verification, a significant step in enhancing the transparency of the broader digital asset ecosystem.

The investment from HBAR Foundation strengthens its focus on delivering scalable solutions for the institutional market, leveraging Hedera's high-throughput infrastructure to enhance transparency, efficiency, and security, while offering financial institutions fixed, low-cost transactions.

Gregg Bell, Senior Vice President at the HBAR Foundation, stated: "Looking ahead to 2025, real-world asset tokenization will be a key catalyst for blockchain adoption. Our vision for a fully tokenized financial ecosystem aligns with Fidelity International's commitment to innovation. To accelerate the mainstream adoption of tokenization, it's essential that we work closely with asset managers, and this investment underscores our firm commitment to that goal. We are excited to deepen our partnership with Archax and Fidelity International and build on our shared vision."

Graham Rodford, CEO and Co-Founder of Archax, added, "The tokenization of Fidelity's USD Money Market Fund on Hedera opens up new avenues for institutional investors, allowing for near instant transfers, reduced counterparty risk, and enhanced cash management solutions. Hedera's cutting-edge DLT enables near real-time settlement, greater efficiency, and cost savings—aligning perfectly with Archax's commitment to providing best-in-class infrastructure performance and security."

Fidelity International is committed to enabling crypto native investors to access real-world assets. Working with partners like Archax and the HBAR Foundation allows the asset manager to bring innovative solutions on chain.

Emma Pecenicic, Head of Digital Propositions and Partnerships APACxJ at Fidelity International, said: "By leveraging fund tokenization, Fidelity International demonstrates a commitment to bridge traditional finance with decentralised finance and offer yield and transparency to onchain investors. We are pleased to work with Archax and HBAR Foundation to expand our distribution channels."

About HBAR Foundation

The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation's six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.

The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world's largest problems and create and control their economies, all built on the Hedera public network. Whether you're building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you.

For more information, please visit https://hbarfoundation.org.

About Archax

Archax is the first ever digital securities exchange regulated by the FCA in London. Targeted at institutions, Archax also has its FCA brokerage, custody and crypto permissions.

Founded by experts from traditional capital markets and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain world and the existing investment space. The Archax team is used to working in highly regulated markets and has a deep understanding of the blockchain landscape and tokenisation too " as well as a vision of how to evolve them and open up digital assets to institutions in a transparent manner.

Archax's solutions are built using proven, resilient, scalable, high-performance infrastructure, integrated into the existing institutional trading workflow. For more information, go to www.archax.com.

About Fidelity International

Fidelity International offers investment solutions and services and retirement expertise to more than 2.9 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 locations and with $925.7 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers, and wealth managers, to private individuals.

Our Global Platform solutions business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $645.4 billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures. Data as of 30 September 2024. Read more at fidelityinternational.com.

Media Contact: hedera@wachsman.com 

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SOURCE The HBAR Foundation