Fasanara Capital, a London-based investment manager, has launched its tokenized money market fund on Polygon.
The asset manager, which boasts over $4 billion in assets under management, announced the new product dubbed “Fasanara MMF Token”, or FAST, was now live on Polygon PoS (ex-MATIC).
Fasanara collaborated with Chainlink (LINK), Apex Group, Tokeny and Fireblocks to launch FAST, according to an announcement on Jan. 21.
FAST combines the benefits of traditional money market funds with blockchain technology, with Polygon PoS playing a crucial role in enabling scalability and real-time settlements. The launch is part of a broader tokenization trend that has seen growing adoption of real-world assets being brought on-chain.
According to Fasanara founder and chief executive officer Francesco Filia, FAST goes beyond simply harnessing blockchain technology. It is a money market fund that leverages this innovation to deliver an investment solution combining the strengths of both tokenized and traditional assets.
The tokenization of the money market fund makes investing more accessible and streamlined for investors, the firm noted.
Colin Butler, vice president of institutional capital at Polygon Labs, commented:
“By leveraging Polygon PoS scalable infrastructure, Fasanara is creating a pathway for real-time settlement, transparency, and broader accessibility in money market funds – benefits that are only possible through blockchain. This milestone marks another step forward in merging DeFi with established financial products, opening up new opportunities for investors globally.”
Apex Group will act as the fund’s administrator, while on-chain finance infrastructure platform Tokeny will manage agency transfers.
Digital assets platform Fireblocks will provide security through its key management and wallet solutions. Meanwhile, FAST will utilize Chainlink’s proof-of-reserve and data feeds for verifying assets under management. Chainlink’s cross-chain interoperability protocol will also enable cross-chain connectivity and scalability.
