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- Hedera Hashgraph enhances energy efficiency by supporting over 10 million transactions with the energy typically used for a single Bitcoin transaction.
- Archax, utilizing Hedera’s platform, collaborates with BlackRock to revolutionize institutional crypto through tokenized money market funds (MMFs).
Hedera Hashgraph excels in the blockchain space by handling over 10 million transactions with the energy of a single Bitcoin transaction, showcasing its commitment to sustainability. Archax, the UK’s first regulated digital asset exchange, uses Hedera’s efficient platform to offer secure trading and custody for institutional clients, promoting digital asset adoption.
Strategic Partnerships and Expansion
Archax has teamed with BlackRock to enhance its tokenized fund offerings, setting new standards for institutional crypto investments. This partnership boosts investment stability and accessibility to tokenized money market funds (MMFs), with a notable multi-million-dollar transaction with Ownera highlighting the impact of these alliances in the digital asset field.
In my recent tweet on X, I recently highlighted the importance of the strategic partnership between Archax and BlackRock, emphasizing its potential to enhance stability and yield for global investors, further amplifying access to tokenized MMFs.
Archax revolutionizes finance by expanding tokenised fund offerings with #BlackRock on #Hedera, setting a new standard in institutional crypto. This strategic move enhances stability & yield, amplifying access to MMFs for global investors. Partnering with Ownera for seamless… pic.twitter.com/F2X1KIyCVy
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) April 23, 2024
Innovative Leadership in Financial Technology
Graham Rodford, CEO and Co-Founder of Archax, highlights how their regulated exchange and custodial ecosystem advances institutional digital asset investments, crediting Hedera’s reliability, security, and performance as essential to their infrastructure.
Our regulated global exchange and custodial ecosystem is unlocking the potential of digital assets for institutional investment, and Hedera has been a key part of our infrastructure thanks to their commitment to trust, security, and performance.
According to recent ecosystem news from the HBAR Foundation dated 23 April 2024, Archax has enhanced its digital offerings significantly:
- Tokenized Offerings Expansion: Archax has broadened its range of tokenized fund shares, including the BlackRock ICS US Treasury MMF, leveraging both the Hedera and Ethereum blockchains.
- Enhanced Financial Operations: Hedera’s tokenization capabilities enable nearly instantaneous MMF share transfers, surpassing traditional methods and allowing for innovative collateral management.
- Distribution Network Expansion: Archax has extended its partnership with Ownera, using the FinP2P network to widen the distribution of tokenized shares, marking a significant operational milestone with its first multi-million-dollar trade on Hedera.
A tweet from the HBAR Foundation highlighted a major milestone in asset management with BlackRock’s MMF tokenization on Hedera, marking a significant step in bringing the world’s largest asset manager onto the blockchain.
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
Market Dynamics and Hedera’s Price Surge
Following CNF’s report on Hedera’s role in tokenizing abrdn’s money-market funds, this latest development has further boosted Hedera’s market price, reflecting growing confidence and interest in its technology. This development has fueled a significant rise in Hedera’s market price, reflecting increased market confidence in Hedera’s technology and its application in the financial sector.
As of today, Hedera (HBAR) is priced at $0.126, with a surge of 91.81% in the last 24 hours and an impressive 113.38% increase over the past week. See chart price below.