Asset manager Fasanara launches tokenized money market fund on Polygon

Fasanara Capital, a London-based investment manager, has launched its tokenized money market fund on Polygon.

The asset manager, which boasts over $4 billion in assets under management, announced that the new product dubbed “Fasanara MMF Token,” or FAST, is now available on Polygon PoS (ex-MATIC).

Fasanara collaborated with Chainlink (LINK), Apex Group, Tokeny and Fireblocks to launch FAST, according to a announcement is January. 21.

FAST combines the benefits of traditional money market funds with blockchain technology, with Polygon PoS playing a crucial role in enabling scalability and real-time settlements. The launch is part of a broader tokenization trend that has seen the growing adoption of real-world assets put on-chain.

According to Francesco Filia, founder and CEO of Fasanara, FAST goes beyond simply leveraging blockchain technology. It is a money market fund that leverages this innovation to offer an investment solution combining the strengths of tokenized and traditional assets.

Money market fund tokenization makes investing more accessible and streamlined for investors, the company noted.

Colin Butler, Vice President of Institutional Capital at Polygon Labs, commented:

“By leveraging Polygon PoS’ scalable infrastructure, Fasanara is creating a path to real-time settlement, transparency and broader accessibility to money market funds – benefits that are only possible through blockchain. This milestone marks another milestone in the merger of DeFi with established financial products, opening up new opportunities for investors around the world.

Apex Group will act as fund administrator, while on-chain financial infrastructure platform Tokeny will manage agency transfers.

Digital asset platform Fireblocks will provide security through its key and wallet management solutions. During this time, FAST will use Chainlink’s proof of reserve and data feeds to verify assets under management. Chainlink’s cross-chain interoperability protocol will also enable connectivity and scalability between chains.