Archax, TomorrowNext and Ownera Demonstrate Tokenized Access to Money Market Funds
Archax, the first FCA regulated global digital asset exchange, custodian and broker; TomorrowNext, provider of a software platform for the discovery and management of tokenized real-world assets; and Ownera, provider of a global interoperability network based on the open FinP2P protocol, today announced that they have been working together to distribute Money Market Funds over the Ownera network in token form.
While the ecosystem and related interest in the tokenization of real-world assets continues to rapidly expand, until now it has lacked a common global interoperability network connecting issuers, investors, exchanges and other market participants.
At a demonstration at Digital Assets Week in London yesterday, Ownera, TomNext and Archax executed a live production trade of a Money Market Fund, distributed via the Archax digital platform, across the Ownera FinP2P network in token form. Through the TomNext software, clients will be able to access yield bearing money market funds intra-day, enabling investors to benefit from tokenized access to this asset class.
This initiative is a first step towards a liquid secondary market, which will make it easier for clients to trade more frequently and maximize their capital efficiency. Behind the scenes, Archax deployed an Ownera "sell-side router" connected to TomNext's "buy-side router" - giving Archax global distribution while giving the TomNext software access to tokenized assets. This interoperability model will enable institutions to give their clients online access to a growing number of diversified tokenized investment opportunities from across the world.
Speaking about the initiative, Graham Rodford, CEO and co-founder of Archax, said: "Together Archax, TomNext and Ownera have demonstrated the value of cross-industry collaboration to accelerate the distribution of regulated tokenized assets. We continue to power ahead with enabling the future of digitally-native financial instruments and are pleased to have established another milestone for industry adoption."
"We are pleased to be able to partner with leading players like Ownera and Archax in accelerating the adoption of tokenized real-world assets, and we are building TomorrowNext precisely to address the gaps in needed software that qualified investors, most of which are not blockchain experts, require to source and benfit from the growth in tokenized investments," added Itay Tuchman, the Founder of TomorrowNext
Ami Ben-David, Ownera's CEO and Founder said: "Ownera brought the industry together to develop the connectivity and interoperability required to make the distribution of tokenized financial assets work effectively and deliver on blockchain's huge potential to transform finance. We solved the key technical problem of interoperability with the open FinP2P protocol, and we are proud to now work closely with Archax and TomNext to grow the commercial adoption of assets such as Tokenized MMFs which we know are one of the killer apps of blockchain."
Archax is a global, regulated, digital asset exchange, brokerage and custodian based in London. Founded by experts from the financial markets world and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain-centric crypto community and the traditional investment space.
Archax is the first-ever firm to receive FCA regulation as a digital securities exchange, custodian and brokerage. It was also the first firm to be listed on the FCA's Cryptoasset Register as a VASP (Virtual Asset Service Provider).
Archax has been designed specifically for institutional investors to trade in all types of digital assets, from cryptocurrencies to digital securities. It is built using existing, proven, resilient, scalable, high-performance exchange infrastructure, hosted in top-tier datacentre space, and integrated into the existing institutional trading workflow.
For more information, go to www.archax.com
TomorrowNext is establishing a cutting-edge platform that simplifies the discovery, execution, and analysis of tokenized real-world assets. Its TomNext software bridges the gaps in the fragmented Digital Asset landscape by providing a common interface for qualified investors to source and manage investment assets across various blockchains, tokenization providers, and issuers.
Founded by leading executives in the intersection of technology, Digital Assets and traditional financial markets, it is building the distribution software required to accelerate the adoption of Tokenization. Its mission is to unlock the benefits of blockchain-based assets, for a universe of investors more familiar with traditional financial markets technologies.
For more information, go to www.tomnext.co
Ownera is a technology company delivering interoperability solutions to the world of tokenized assets. The company led the creation of the open peer-to-peer protocol called FinP2P and delivers FinP2P based network routers and digital securities solutions to the regulated financial services industry. Ownera's FinP2P routers enable global distribution and liquidity by connecting tokenized assets distributed by sell-side institutions to buy-side demand. The routers facilitate the negotiation and settlement of transactions between the counterparties and their various regulated service providers including custodians, brokers, transfer agents, digital cash providers and lenders.
Ownera completed its Series A investment round in 2022 and its strategic investors include J.P. Morgan, U.S. Bancorp, LRC Group, Draper Goren Holm, tokentus Investment AG, Accomplice Blockchain, Polymorphic Capital, The Ropart Group and Archax
For more information, go to www.ownera.io
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