AlloyX debuts a tokenized money market fund on Polygon, merging bank-custodied assets with DeFi strategies amid growing demand for real-world assets.
Tokenization infrastructure company AlloyX has launched a tokenized money market fund on Polygon, designed to combine bank-custodied assets with DeFi-native strategies, a move that highlights the accelerating growth of real-world assets (RWAs) on the blockchain.
The fund, called the Real Yield Token (RYT), represents shares in a traditional money market fund whose underlying assets are held in custody by Standard Chartered Bank in Hong Kong and subject to regulatory compliance and audits, the company announced.
Like a conventional money market fund, RYT invests in short-term, low-risk instruments such as US Treasurys and commercial paper. Tokenization makes these shares tradable onchain, allowing holders to use them within decentralized finance ecosystems.
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