"Fasanara Capital, a UK-based investment manager, unveils a new venture involving tokenized Money Market Funds"
Fasanara Capital's Tokenized Money Market Fund Revolutionizes Crypto Sector
Fasanara Capital, an alternative asset manager with $4.5 billion in assets under management (AUM), is making waves in the crypto industry with the launch of its tokenized money market fund (MMF) called FAST. This innovative fund, set to be available only to professional investors, aims to offer a return of 4.7% and promises to enhance liquidity, settlement speed, and risk management in traditional money market strategies.
The tokenized nature of FAST allows for atomic settlement of tokenized securities, reducing counterparty risk and integrating decentralized finance (DeFi) mechanisms without compromising security. This could drive more institutional adoption and growth in tokenized asset markets, streamlining access to capital and improving operational efficiency within the convergence of crypto and traditional finance.
Fasanara Capital has partnered with several key players to make this vision a reality. The fund has partnered with Tokeny for tokenization, XBTO's Stablehouse as custodian, Chainlink for automated NAV calculations, proof of reserve, and cross-chain interoperability, and Fireblocks for key management and wallet infrastructure.
In addition to these collaborations, Fasanara Capital is also involved in Project Acacia, a research initiative led by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre. This project aims to demonstrate how wholesale CBDCs and tokenized stablecoins can be used to facilitate delivery-versus-payment (DvP) atomic settlement in tokenized securities markets.
FAST will primarily invest in Treasury Bills, longer dated Treasuries, money market funds, and commercial paper, with half its funds in Treasury Bills, a fifth in longer dated Treasuries, 15% in other money market funds, and 10% in commercial paper. The fund will use USDC and fiat for settlement, with same-day or next-day options at the asset manager's discretion.
Francesco Filia, Fasanara's founder and CEO, stated that the tokenized money market fund provides an innovative and compliant investment solution with real-time processing, enhanced transparency, and traditional asset management practices. Fasanara Capital has been involved in $140 billion of digital asset trading volume as a liquidity provider, further demonstrating its commitment to the crypto sector.
With its innovative approach and strategic partnerships, Fasanara Capital's tokenized money market fund, FAST, is poised to be a pioneering vehicle in crypto-finance, bridging traditional asset management with tokenized digital assets and CBDC infrastructure.
| Aspect | Details | |-----------------------|------------------------------------------------------------------------------------------------| | Innovation | Tokenized MMF leveraging atomic settlement, DeFi integration, and reduced counterparty risk | | Potential Impact | Accelerates institutional adoption, improves liquidity, enhances security and operational efficiency | | Key Partners | Tokeny, XBTO's Stablehouse, Chainlink, Fireblocks, Reserve Bank of Australia, Digital Finance CRC, NotCentralised, Redbelly Network, Australian Bond Exchange, Northern Trust |
[1] Project Acacia [2] Digital Finance Cooperative Research Centre
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