Alloyx, a Stablecoin infrastructure company based in Hong Kong, introduced a token monetary market called Ryt, made its debut on Ethereum Scaling Network Polgon with the guard services provided by Standard Charterd Bank.
Unlike traditional money market funds in Tokenized, which offer a passive exhibition, Ryt is part of decentralized finance (DEFI) to create strategies for improving yields, while remaining in a recognition -based compliance with listeners and regulators, Aulloyx said in a press release on Thursday.
The Stablecoin ecosystem has increased exponentially in recent years to a market capitalization of $ 280 billion according to Defillama data. The USDT of Tether and the Circle USDC remain the dominant stables which represent more than 80% of the sector.
Last month, Alloyx was acquired by Solowin Holdings (Swin), a listed investment in stock company based in Hong Kong, for $ 350 million to strengthen expansion on emerging markets.
The agreement promises regulation cycles T + 1, which means that transactions in securities govern one working day after the commercial date and the publication of chain selected fund data, which gives investors greater transparency while retaining operations in a regulated framework.
Polygon Labs supports deployment with technical integration and ecosystem growth efforts. Ryt will remain exclusive to Polygon during its initial launch period before expanding other networks, companies said.
“With a polygon -based closure to amplify MMF services with usefulness and banking quality token providing the underlying cash component, Ryt aims to fill the liquidity of Defi with a transparent and verified cash management layer – while keeping the emission, the guard and the reconciliation squarely in a regulated framework,” said Dr. Thomas Zhu, said Dr. Thomas Zhu Cofondeur and CEO of the ALLLY group from ALLLY.
