Galaxy Digital (GLXX), the digital asset investment company led by Mike Novogratz, plans to publish a tokenized monetary market fund, according to two people familiar with the plan.
The company based in New York aims to bring a more native cryptocurrency turn to the range of token funds by traditional finances, such as Benji Tokrock of Blackrock and Benji of Blackrock, said that the people, who refused to be identified.
The Galaxy Fund, which will make its debut in the coming months, will finally be available on the Ethereum, Solana and Stellar blockchains. That said, he will not appear on the three blockchains on the first day, according to one of the people. Digital Anchorage must be the guardian of the new fund.
“The overall ambition is to use the power of tokenization to offer instant liquidity, and there is a lot of upcoming innovation,” said the person. “Galaxy had the advantage of seeing Buidl and some of the others on the market, and to see who engages with these funds, how they get involved with them and how it could be better.”
A Galaxy Digital representative refused to comment on the fund. Anchorage Digital did not immediately respond to requests for comments.
The BlackRock Buidl Fund, which now has a market capitalization of around 2.2 billion dollars, was put online on Solana blockchain in March after having made its debut on Ethereum.
Read more: Galaxy Digital Tokenizes its actions on Solana with superstate
