HBAR price surged nearly 100% after BlackRock tokenizes US Treasury fund on Archax
Digital asset exchange Archax has partnered with the HBAR Foundation to add BlackRock‘s ICS US Treasury fund to its platform.
According to a statement by the HBAR Foundation, the first tokenized transaction with BlackRock’s money market fund was completed through the Ownera FinP2P network.
Archax can provide customers with the ability to trade money market fund shares almost instantly throughout the day, in addition to creating a secondary market for tokenized investment vehicles.
“The tokenization of money market fund shares on Hedera via Archax is a major vote of confidence,” said HBAR Foundation CEO Shayne Higdon. “Hedera’s unmatched speed, security, and low cost make it ideal for the tokenization of real-world assets at an institutional level via Archax.”
The HBAR price began to rise rapidly after the tokenization of the BlackRock fund, and within hours it had nearly doubled, rising from $0.09 to $0.17.