@HBAR_foundation@BlackRock@hedera@ArchaxEx@OwneraIO BlackRock is the world's largest asset manager. This development marks a major milestone because it brings a major traditional financial player into the world of blockchain and tokenization.
@HBAR_foundation@BlackRock@hedera@ArchaxEx@OwneraIO Tokenization is the process of converting ownership of a real-world asset into a digital token on a blockchain platform. Here, shares of the BlackRock MMF are being tokenized.
@HBAR_foundation@BlackRock@hedera@ArchaxEx@OwneraIO Archax is a company that facilitates the secure trading, custody, and issuance of digital assets. They are acting as the partner for tokenizing the MMF shares on Hedera.
@HBAR_foundation@BlackRock@hedera@ArchaxEx@OwneraIO I asked Gemini what this means and it said;
RWA stands for Real-World Asset. This refers to an asset that exists in the physical world, like cash, bonds, or real estate. In this case, the RWA is the BlackRock ICS US Treasury money market fund (MMF).
@HBAR_foundation@BlackRock@hedera@ArchaxEx@OwneraIO Hedera is the public ledger (blockchain) being used for this tokenization. Hedera is known for its speed, security, and focus on institutional use cases.