Fidelity Investments is planning to launch an Ethereum-based blockchain share class called "OnChain" for its Treasury money market fund, offering enhanced transparency and transaction tracking. While official records will remain in traditional book-entry form, shares will also be recorded on Ethereum’s blockchain, with daily reconciliations. The fund will invest in cash and U.S. Treasuries, aligning with standard money market regulations. The fund is set to go live on May 30, pending regulatory approval, with hints of a potential Solana-based product in the future. Source: The Block
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