The director of assets Vaneck launched his first tokenized fund, joining a list of institutions entering the race to bring assets in mind with Tokenzification.
The Vaneck Treasury Fund (VBILL), developed with a specialist specialist in tokenization, it offers chain access to a short -term American treasure debt and is available on the avalanche Avax$25.73BNB chain Bnb$665.21Ethereum Ethn$2,667.01 and Solana GROUND$183.46 Networks, according to a Tuesday press release.
“By providing chain treasury bills, we provide investors with a secure, transparent and liquid tool for cash management, further incorporating digital assets into traditional financial markets,” said Kyle Dacruz, product director of digital assets at Vaneck, in a press release. “Tokenized funds like VBILL improve the liquidity and efficiency of the market, emphasizing our commitment to provide value to our investors.”
Vaneck, who also emits a bitcoin spot BTC$103 999.45 and ether Ethn$2,667.01 ETFs, follows in the footsteps of BlackRock, Franklin Templeton and other traditional financing companies launching tokenized products. Tokenization is the process of setting up instruments such as bonds, credit, basic products, real estate on blockchain rails in the form of a token to reach faster regulations, cheaper transactions and operational efficiency.
The tokenization of American treasury bills, a traditional reserve asset, was at the forefront of these efforts. It is a market of almost $ 7 billion now, increasing more than 500% in the past year, according to Rwa.xyz data.
VBILL is accessible to qualified investors with a minimum investment of $ 100,000 on most blockchains, with a minimum subscription of $ 1 million on Ethereum. Fund assets are held by State Street and at a price daily using Oracle Service data from Redstone.
The token supports around the onramp clock with the stablecoin USDC of Circle. It also offers atomic liquidity with Agora Stablecoin Ausd, which means that VBILL tokens can be exchanged for AUSD in a single transaction via an intelligent contract. Agora is a Stablecoin startup led by Nick Van Eck, the grandson of the founder of Vaneck.
