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

On December 4th, asset management company abrdn announced a partnership with cryptocurrency trading platform Archax, aiming to tokenize traditional finance (TradFi) assets and strive for a leading position in this emerging field. They plan to develop a regulatory framework for tokenizing and trading various assets. This move marks the integration of traditional finance and blockchain technology, which may completely change the way assets are processed and traded.
Early next year, Archax will launch trading pairs for abrdn Money Market Fund (MMF) tokens and Bitcoin (BTC). In other words, users can exchange Bitcoin for US dollar MMF tokens, instead of exchanging BTC for US dollars or USDC. The obvious next step (although the company has not yet publicly discussed this) is to use MMF ownership tokens as collateral.
As previously reported by BlockBeats, in November last year, digital asset trading platform Archax completed a $28.5 million Series A financing round, led by abrdn.