Fidelity joins the tokenization trend with on-chain treasury fund filing

Fidelity aims to tokenize shares of its US Treasury money market fund on Ethereum, enhancing transparency with blockchain. The filing includes plans for the Fidelity Treasury Digital Fund (FYHXX) and maintains traditional asset custody.

This move signals Fidelity’s entry into asset tokenization, collaborating with firms like BlackRock. Tokenization is expected to modernize the financial landscape, offering benefits like real-time settlement and broader financial access.