Sygnum Tokenizes $50M of Fidelity International Fund as Matter Labs Moves Reserves to Blockchain
Sygnum Bank has tokenized $50 million of assets in a Fidelity International's money-market fund on zkSync for Matter Labs, marking the first use of Sygnum's multichain tokenization offering of traditional investments. The tokens represent Matter Labs' holdings in Fidelity International's Institutional Liquidity Fund, which manages $6.9 billion in assets. This move aligns with Matter Labs' goal to transition its reserves into a blockchain environment. Tokenization of real-world assets is becoming more popular as it can increase transaction settlement speed and transparency, reduce administrative burden, and bridge the gap between digital assets and traditional finance. Global institutions like Citi, JPMorgan, and Franklin Templeton are testing this technology.
