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    Singapore firms launch blockchain-based US Treasury bill fund on Avalanche network

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    Singapore-based platform Libeara and FundBridge Capital are launching a digital, dollar-linked US Treasury bill (T-Bill) fund on the Avalanche (AVAX) network. Named the Delta Wellington Management Short Treasury On-Chain Fund, it focuses on providing a transparent, easy-to-monitor, and quick method for transacting with US Treasuries through blockchain. The fund aims to facilitate the buying and selling of digital US Treasuries efficiently. As of November 12, digital US treasury debt stood at around $2.3 billion. The digitisation of assets could potentially lead to smoother trading of Treasuries.

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    Libeara and FundBridge Capital are set to introduce a digital, dollar-linked US Treasury bill (T-Bill) fund on the Avalanche (AVAX) network, as per a recent post on X platform. This digitized fund, known as the Delta Wellington Management Short Treasury On-Chain Fund, is all about providing a clear, easy-to-check, and fast way to work with US Treasuries using blockchain.

    This fund is designed to handle buying and selling of digital US Treasuries with ease. A bit about the companies behind this, Libeara is a platform from Singapore that deals with turning assets into digital tokens. Meanwhile, FundBridge provides tools to help investment managers stay compliant with rules and regulations.

    Blockchain tech brings benefits like easy access and efficient operations to FundBridge, says Mark Garabedian, who’s in charge of digital assets and digital tokens at FundBridge.

    There’s growing demand for turning real-world stuff into digital versions (real-world assets – RWAs), particularly for low-risk investments like T-Bills. As of Nov. 12, digital US treasury debt was around $2.3 billion.

    Big players in this field are BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and Franklin OnChain US Government Money Fund (FOBXX) with assets of about $510 million and $450 million respectively. Overall, this idea of turning real-world things into digital tokens – from T-Bills to art – could be worth as much as $30 trillion globally.

    Making these digital tokens could possibly make trading of Treasuries faster and more fluid by reducing roadblocks, as per a report by the United States Department of Treasury. Avalanche has become a top choice for doing this type of security tokenization.

    Last September, the Depository Trust and Clearing Corporation (DTCC), the main hub for securities trades in the US, tested using digital US Treasury bills for trading margin using Avalache’s Evergreen subnet.

    Trump’s presidential win has opened the doors for a few projected crypto ETFs hoping to get the thumbs up to list in the US. Also, US regulators are looking into a request to list the first ETF that includes a mix of cryptocurrencies. The fund includes a crypto portfolio with Bitcoin, ETH, Solana, Avalanche, and XRP.

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