Fidelity Launches Tokenized Money Market Fund on Ethereum

Financial giant Fidelity Investments has filed to register a tokenized US dollar money market fund on the Ethereum blockchain, named ‘OnChain’. This new initiative will issue shares from its Fidelity Treasury Digital Fund (FYHXX), which will be recorded on the Ethereum network. The goal of OnChain is to enhance transparency and provide investors with verifiable ownership records for their shares.