Financial giant Fidelity has launched its new tokenized money market fund, the Fidelity Digital Interest Token (FDIT), with support from Ondo Finance’s OUSG Fund. This move marks a significant development in the growing trend of institutional asset managers exploring tokenization for traditional financial products. 99% of FDIT’s assets are allocated to Short-Term US Treasuries, according to the company, reflecting a significant focus on this segment within the fund. This launch follows the footsteps of other prominent firms like BlackRock and Franklin Templeton who have already ventured into tokenized funds. Ondo Finance has played a pivotal role in fostering this trend, launching OUSG in January 2023, one of its first tokens offering on-chain exposure to U.S. Treasuries. Since then, the space has expanded, with firms like BlackRock and Circle contributing to this innovation.