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Sygnum, a leading global digital asset bank, tokenized USD 50 million of Matter Labs’ treasury reserves onto the zkSync blockchain in a groundbreaking move. This is a major step toward digital asset economy integration in finance. Sygnum’s security tokens are on-chain copies of Fidelity International’s huge USD 6.9 billion Institutional Liquidity Fund (ILF). Sygnum, Matter Labs, and Fidelity’s collaboration shows how blockchain could change finance.
Matter Labs Explores zkSync for Ethereum Scaling
Known for its software development, engineering, and cryptography skills, Matter Labs is working on scaling Ethereum and improving zk-rollup technology like zkSync. This innovative project is based on zkSync, a layer 2 blockchain protocol that speeds up
. By tokenizing some of its treasury reserves on the zkSync blockchain, Matter Labs hopes to encourage more companies to use on-chain financial instruments.
Fidelity’s money market fund was tokenized using Sygnum’s multi-chain solution. This is a major advance in blockchain-traditional securities integration. This groundbreaking project shows Sygnum’s commitment to Crypto-TradFi connections and a tokenized ecosystem. Jürg Rimle, Country Head Switzerland at Fidelity International, likes how the partnership is helping professional and institutional investors enter the market and strengthening the link between digital assets and traditional finance.
Sygnum and Fidelity Forge Blockchain and Finance Partnership
Sygnum’s Head of Tokenization, Fatmire Bekiri, emphasizes working with Fidelity and using zkSync. She values this partnership because it shows Sygnum’s goal of combining blockchain with well-known financial institutions’ expertise. Sygnum, a global Tier 1 investment manager like Fidelity, uses blockchain technology to create a future where Crypto and Trad-Fi work seamlessly.
Marco Cora, Matter Labs’ Senior Vice President of Business and Operations, is excited to move a lot of cash to the zkSync blockchain. Matter Labs is committed to transparency, and zkSync is secure for institutions. Tokenizing a portion of Fidelity’s money market fund on the zkSync blockchain with Sygnum will make financial markets more open and liquid.
Tokenizing Fidelity’s money market fund is part of a larger RWA tokenization trend. This trend soared 74% to USD 2.5 billion in 2023. People want more liquid, accessible, and clear financial markets, so this trend is growing. Matter Labs is using blockchain technology to create new opportunities and transform financial instruments. This makes the industry more efficient and innovative.