Archax to launch asset management firm abrdn money market fund token and Bitcoin trading pair

Asset management company abrdn, which manages $626 billion in assets, launched institutional-level money market fund tokens in October. Currently, Archax, a cryptocurrency company regulated by the UK Financial Conduct Authority (FCA), is putting it into use to find new and flexible ways of allocating funds for its clients. Simon Barnby, Chief Marketing Officer of Archax, said that client wallets must be whitelisted and tokens are only open to professional investors. However, the tokenized portion of abrdn's fund is priced at only $5,000, which may open up new channels of investment for the product. In early next year, Archax will launch abrdn Money Market Fund (MMF) tokens and bitcoin trading pairs.