Marketnode Provides Access to BNY Investments Funds via Stellar
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Marketnode is offering on-chain tokenization access to certain BNY Investments funds through the Stellar network. This initiative aims to expand the fund distribution infrastructure based on blockchain technology for institutions and qualified investors in the Asia-Pacific region. Marketnode announced this on the 13th at 4:56 PM KST. The targeted region is Asia-Pacific, and the investors are limited to institutions and qualified investors, with specific fund names and launch schedules not disclosed. The key aspect of this initiative is not the token price but the method of accessing the funds. Marketnode acts as a digital market infrastructure provider, facilitating the distribution, recording, and processing of fund products in an on-chain environment. BNY is also promoting the digital transformation of its fund services, having launched a digital transfer agent function as of July 29, and plans to provide a digital market infrastructure that integrates tokenization, distribution, and custody. BNY mentioned initial issuers such as BNY Investments Dreyfus, Baillie Gifford, and BlackRock, stating that it offers a digital native money market fund with the BLIQUID token representing fund shares. Established in 2021, Marketnode is a digital market infrastructure provider in the Asia-Pacific region, with Euroclear having acquired a strategic stake. This access provision can be seen as a case where the tokenization flow of BNY-related funds connects to distribution points for institutions and qualified investors in the Asia-Pacific region.
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