Global demand for money market funds has surged 233% (US$2.1T in 2015 to US$7.2T in 2024) with MMF yields rising faster than many bank deposit rates, investors have sought the liquidity and return advantages of these vehicles.

With regulators recognizing tokenized MMFs under initiatives like MAS Project Guardian, PhillipCapital has integrated blockchain technology into its established USD MMF to enhance liquidity, transparency, and extend digital access.

The underlying tMMF-USD delivers around 4% annualized yield, with daily dealing and T+1 settlement, providing a stable, liquid foundation for Tokenization.

• The tokenized fund mirrors the traditional structure, with each on-chain token representing a unit in the underlying portfolio. 
• Operating under Singapore’s regulated framework, the fund publishes its NAVs directly on-chain, providing real-time valuation transparency.
• Institutional distribution was launched through PhillipCapital’s accredited network, with retail access via the POEMS platform and secondary liquidity enabled through AltaX.

Significance of Transaction

• This launch marks a major milestone in regulated real-world-asset tokenization in Singapore, demonstrating how tokenization can enhance fund governance, transparency and operational efficiency without altering regulatory safeguards.
• This Money Market Fund provides a cash-management solution for AltaX investors, allowing idle funds to earn yield while maintaining liquidity and enabling flexible capital deployment into new investment opportunities through AltaX.
• This tMMF-USD serves as a blueprint for scaling blockchain infrastructure across other PhillipCapital-managed funds, including SGD-denominated and regional fixed-income products, and reinforces industry momentum for tokenized money-market instruments as a bridge between traditional finance and digital assets.

Alta’s Role

• AltaX provides the regulated digital-asset infrastructure, tokenization, and distribution capabilities for the launch of the Tokenized USD Money Market Fund.
• Through AltaX, the fund can be distributed to AltaX’s member firms & investor network, broadening investor reach and facilitating seamless secondary liquidity.
• This collaboration reinforces AltaX’s position as a key enabler of regulated tokenization, distribution, and secondary-market liquidity for real-world assets across Asia.
• The MMF serves as a core component of AltaX’s infrastructure, supporting flexible cash management and efficient capital deployment, while enhancing investor access, distribution reach, and market liquidity.

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