Marketnode, the Singapore financial market infrastructure, is planning to tokenize BNY Investments funds on the Stellar network to make them available to institutional and accredited investors. The Fundnode settlement platform processed almost 1.5 million transactions last year, after launching in 2024. Marketnode was founded in 2022 by Temasek and Singapore stock exchange SGX, with HSBC and Euroclear joining as investors.
Stellar has proven popular with institutions and asset managers, in part because tokens are native to the platform and have the built in controls that enable regulated institutions to correct errors or fraud. Franklin Templeton launched its first tokenized money market fund BENJI on Stellar, and next year Stellar will be the third blockchain supported by the DTCC for tokenized stocks.
Marketnode recently helped HSBC to launch its first onchain structured product and earlier this year became the authorized distributor of digital funds for WisdomTree and the tokenizer and distributor for certain CGS International funds, supporting both asset managers on multiple blockchains. CGS is a subsidiary of the large Chinese state-backed institution China Galaxy Securities.
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