🚀 BlackRock Seeks Digital Shares Category for Money Market Fund
#BlackRock #DigitalShares #DLTShares #MoneyMarketFund #Blockchain #BNYMellon #DigitalCurrency
According to PANews, BlackRock has applied for a digital shares category, known as DLT Shares, for its $150 billion money market fund. Bloomberg ETF analyst Henry Jim revealed that these shares will be exclusively sold through BNY Mellon, which plans to use blockchain technology to mirror ownership. This initiative may serve as preliminary groundwork for the future use of digital currency or cash.#BlackRock #DigitalShares #DLTShares #MoneyMarketFund #Blockchain #BNYMellon #DigitalCurrency
🚀 BNPP AM Launches Native Digital Shares on Allfunds Blockchain
#BNPParibas #AssetManagement #DigitalShares #Allfunds #Blockchain #MoneyMarketFund #Tokenization #CrossBorderTransaction #RealTimeTrading #NetAssetValue #DLT #EuropeanCentralBank #CryptoInstitutions #RetailInvestors
According to Odaily, BNP Paribas Asset Management (BNPP AM) has issued native digital shares of a money market fund (MMF) on the Allfunds Blockchain. Unlike most tokenized funds that are based on existing funds, this initiative involves the creation of entirely new native digital shares. These shares were subsequently used in a cross-border transaction with a French counterparty. BNPP AM acted as the transfer agent and transaction service provider, while Allfunds Blockchain served as the technology partner.
The appeal of this initiative lies in its potential to enhance efficiency by shifting from bulk subscription and redemption to real-time trading based on net asset value. Additionally, with the anticipated introduction of a wholesale DLT settlement solution by the European Central Bank, faster settlement times are expected.
BNPP AM's move also explores the potential of MMF tokenization to attract both crypto-native institutions and retail investors.#BNPParibas #AssetManagement #DigitalShares #Allfunds #Blockchain #MoneyMarketFund #Tokenization #CrossBorderTransaction #RealTimeTrading #NetAssetValue #DLT #EuropeanCentralBank #CryptoInstitutions #RetailInvestors
🚀 Nasdaq Prioritizes SEC Approval for Stock Tokenization Proposal
#Nasdaq #SEC #StockTokenization #DigitalAssets #MattSavarese #PublicFeedback #InvestorTrading #DigitalShares
According to PANews, Nasdaq's Head of Digital Asset Strategy, Matt Savarese, has emphasized the importance of obtaining approval from the U.S. Securities and Exchange Commission (SEC) for its stock tokenization proposal. When asked about the likelihood of SEC approval within the year, Savarese stated, "I believe we must carefully evaluate public feedback and respond to the SEC's inquiries accordingly." He added, "We aim to advance this matter as swiftly as possible." The proposal, submitted on September 8, seeks to enable investors to trade stock tokens, which are digital representations of publicly listed company shares, on the exchange.#Nasdaq #SEC #StockTokenization #DigitalAssets #MattSavarese #PublicFeedback #InvestorTrading #DigitalShares
🚀 Tether Plans to Raise $20 Billion Through Stock Offering
#Tether #StockOffering #Fundraising #Tokenization #Blockchain #Shares #BlockchainCapital #Investor #StockBuyback #DigitalShares #Anonymity #Shareholders
According to Foresight News, Tether is planning to raise up to $20 billion through a stock offering and may consider tokenizing the shares after the sale. Insiders have revealed that Tether's executives are exploring various options, including stock buybacks and storing the company's shares digitally on the blockchain post-transaction.
Sources indicate that at least one existing shareholder previously intended to sell shares at a price significantly lower than the company's $500 billion valuation, but Tether intervened to halt this plan. The management is concerned that such sales by current investors could impact their substantial fundraising efforts. Due to the confidential nature of the information, the sources requested anonymity. One insider mentioned that the company currently has no plans to allow existing shareholders to sell shares in this primary funding round.
An insider also disclosed that Tether investor Blockchain Capital had considered selling some shares before Tether's fundraising plans were announced but later decided against it. The source added that Tether's management did not attempt to prevent Blockchain Capital from selling its shares.#Tether #StockOffering #Fundraising #Tokenization #Blockchain #Shares #BlockchainCapital #Investor #StockBuyback #DigitalShares #Anonymity #Shareholders