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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.