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Coinbase Reportedly Planning Tokenized Money-Market Fund

The exchange has its own plans to enter the hot sector.

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Crypto exchange Coinbase Coinbase is aiming to become a major player in tokenized US Treasury markets, CoinDesk reports.

What’s the scoop?

  • New Fund: The asset management arm of publicly traded crypto exchange Coinbase (COIN) plans to create a tokenized money market fund, attempting to emulate the success of tokenized products from legacy asset managers like BlackRock and Franklin Templeton.

Bankless Take:

While the tokenized asset sector already has plenty of money market offerings from more established firms, this latest offering stands out due to Coinbase’s massive distribution network; it has the potential to push an increased number of onchain participants out of non-productive stablecoins into yield-bearing US Treasury bills.

 


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Jack Inabinet

Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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