The cryptocurrency trading platform Archax will launch trading pairs for the Abrdn money market fund and Bitcoin early next year

ChainCatcher news, asset management company abrdn has partnered with cryptocurrency exchange Archax to focus on tokenizing traditional financial (TradFi) assets, aiming to gain a leading position in this emerging field. They plan to develop a regulatory environment for the tokenization and trading of various assets. This initiative marks the convergence of traditional finance and blockchain technology, which could fundamentally change the way assets are handled and traded.

Early next year, Archax will launch trading pairs for the abrdn money market fund (MMF) token and Bitcoin (BTC). In other words, users will be able to exchange Bitcoin for USD MMF tokens instead of converting BTC to USD or USDC. The obvious next step (though the company has not publicly discussed this so far) is to use MMF ownership tokens as collateral.