Official announcements from Fidelity or regulatory bodies

Fidelity Files for First Blockchain-Enabled Money Market Fund to Catch Up with BlackRock

Oct 10, 2024, 09:26 PM

Fidelity, the U.S. investing giant, has filed for its first money market fund that may use blockchain technology in the future. This move is part of a broader trend among asset managers to explore tokenization, following similar efforts by BlackRock, Franklin Templeton, and WisdomTree. WisdomTree has also announced that its digital money market fund can now be used as a funding source for Visa debit cards, enabling yield-bearing on-chain investments to fund daily spending. These developments signify a significant step towards a fully tokenized financial future and help Fidelity catch up with BlackRock.