Fasanara Capital, an investment manager based in London, has announced the launch of its tokenized money market fund on Polygon. With more than $4 billion in assets under management, the firm has named the new product “Fasanara MMF Token”, or FAST, which is now live on the Polygon PoS (ex-MATIC) platform.
This innovative step was made possible through collaboration with Chainlink (LINK), Apex Group, Tokeny, and Fireblocks, as revealed in an announcement made on January 21. The introduction of FAST is a significant development, blending the advantages of traditional money market funds with the revolutionary capabilities of blockchain technology. Polygon PoS plays a pivotal role in this initiative, facilitating scalability and real-time settlements.
The launch of FAST is set against the backdrop of a wider tokenization trend, with an increasing number of real-world assets being taken on-chain.
Fasanara’s founder and CEO, Francesco Filia, explained that FAST brings more to the table than just the utilization of blockchain technology. It effectively serves as a money market fund that capitalizes on this technological breakthrough to deliver an investment solution that merges the best features of both tokenized and traditional assets.
The firm further emphasized that tokenizing the money market fund simplifies and broadens access to investment for investors.
In response to this development, Colin Butler, the 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.”
For the administration of the fund, Apex Group has been selected, while Tokeny, an on-chain finance infrastructure platform, will oversee agency transfers.
In terms of security, digital assets platform Fireblocks will provide key management and wallet solutions. Furthermore, FAST will make use of Chainlink’s proof-of-reserve and data feeds to verify assets under management. Chainlink’s cross-chain interoperability protocol will also facilitate cross-chain connectivity and scalability.
This launch not only stands as a testament to Fasanara Capital’s innovative approach towards asset management but also signals the growing convergence of traditional finance and decentralized finance (DeFi), promising a new era of investment opportunities.
