Archax to distribute abrdn money market funds

Archax, the FCA-regulated digital asset exchange, broker and custodian, today announced that it has been approved to distribute certain abrdn funds based out of Luxembourg. Building on the previous announcement when Archax tokenised its investment in their GBP money market fund, Archax will now directly provide both tokenised and traditional access to abrdn’s GBP, USD and EUR yield-generating money market funds to third parties.

Graham Rodford, CEO and co-founder of Archax, comments:

“Being able to directly distribute these money market funds in both traditional and tokenised form sits nicely alongside our existing digital asset custody and exchange offerings. We can now provide access to institutional-grade, yield-bearing USD, GBP, and EUR funds alongside regulated digital securities and unregulated cryptocurrencies. Firms active in the crypto and digital asset space now have more instruments available to them to invest or park balances whilst earning an attractive return. Whether clients are sitting with cash balances or stablecoins, they can use these instruments to hold monies and generate yield, whilst retaining easy access. And do all of this in the same place.”

Access to these money market funds follows on from Archax’s recently launched crypto OTC desk and crypto exchange. It also further delivers on the Archax vision of applying robust compliance and regulatory standards to offer a single marketplace for trading all types of digital and traditional assets, as well as custody them securely whilst being able to generate yields and staking returns.