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While the recovery in Bitcoin (BTC) and altcoins continues, some altcoins manage to stand out in the market with their rise. One of these altcoins was HBAR, the native cryptocurrency of Hedera Hashgraph.
While HBAR increased by up to 100% to $0.18, the world's largest asset management company, BlackRock, was behind this rise.
HBAR Foundation announced in its post that financial giant BlackRock will leverage Hedera Blockchain to tokenize its money market fund.
Today we witness #RWA history as @BlackRock’s ICS US Treasury money market fund (MMF) is tokenized on @Hedera with @ArchaxEx and @OwneraIO, marking a major milestone in asset management by bringing the world’s largest asset manager on-chain 🏦 pic.twitter.com/1Kye8cjAJx
— HBAR Foundation (@HBAR_foundation) April 23, 2024
In this partnership, which is an important development for the RWA sector, apart from BlackRock and HBAR Foundation, Archax, a London-based digital asset exchange, broker and custodian, also took part.
HBAR, which rose to over $0.18 with its rise, continues to be traded at $0.138 with a 55% increase at the time of writing.
*This is not investment advice.