Fasanara launches tokenized money market fund on Polygon

Fasanara launches tokenized money market fund on Polygon | Image by XBTO

Fasanara Capital Ltd (“Fasanara”), a London-based institutional investment manager and global leader in digital finance with over $4 billion in assets under management, has launched its first tokenized Money Market Fund, the “Fasanara MMF Token” (“FAST”), held on the Polygon PoS (Proof of Stake) public blockchain. Developed in collaboration with Apex Group, Tokeny, Chainlink, Fireblocks, and XBTO, FAST offers investors a faster, more cost-effective, and transparent way to access money market investments.

FAST integrates the stability of traditional money market investments with the operational efficiency of blockchain technology. By leveraging Polygon’s scalable infrastructure, FAST enables real-time settlement and open distribution, eliminating manual processes and broadening investor access. This digital approach streamlines subscriptions, redemptions, and ongoing fund management, providing investors with a seamless investment experience.

Francesco Filia, Founder and CEO of Fasanara, commented: “With FAST, we are not only reshaping the future of money market investments but also redefining how investors engage with financial markets. By harnessing blockchain technology, we provide an innovative and compliant investment solution that enables seamless access to liquidity, real-time processing, and enhanced transparency – all while maintaining the rigor of traditional asset management practices.”

The launch of Fasanara’s first tokenized Money Market Fund represents a significant milestone for the firm, positioning it as a pioneer in technology-enabled investing. Through FAST, Fasanara is not only modernizing fund management but also setting a new benchmark for digital innovation in asset management. By tokenizing a stable asset class like a money market fund, Fasanara aims to redefine how investors engage with these investments, making them more accessible and adaptable to today’s digital-first economy.

FAST is structured using ERC-3643 smart contracts, ensuring regulatory compliance and operational flexibility at the token level. Apex Group, the fund’s administrator, uses Tokeny's blockchain-based platform for lifecycle management and governance of the fund. Security is enhanced through Fireblocks’ key management and wallet infrastructure, safeguarding on-chain operations. To further enhance the transparency, utility, and liquidity of FAST, Fasanara will adopt the Chainlink standard for onchain finance, including Proof of Reserve and Data Feeds to verify AUM and bring NAV data on-chain, and intends to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enhance connectivity and scalability across blockchain networks. To provide secure asset custody, XBTO’s regulated custodial division, Stablehouse, will act as custodian.

This comprehensive, blockchain-native infrastructure is purpose-built to meet the evolving needs of modern investors who seek greater transparency, speed, and liquidity. By bridging traditional finance and decentralized finance (DeFi), FAST is part of Fasanara’s strategic commitment to digital transformation in asset management, aligning with broader industry trends toward asset digitization.

Peter Hughes, Founder and CEO of Apex Group, stated: “We are proud to partner with Fasanara in delivering this innovative fund. By leveraging a standardized framework for compliant tokenization, we are enhancing operational efficiency, while ensuring seamless interoperability and distribution. This approach not only meets the growing demand for interoperable and on-chain solutions but also provides our clients with a future-ready platform for navigating the evolving financial landscape.”

Luc Falempin, CEO at Tokeny, added: “The market is reaching a new level of maturity, and leaders like Fasanara are setting the standard for the future of on-chain finance. We are thrilled to provide the platform that enables institutional-grade on-chain finance for this new ecosystem. With a token-centric approach, we ensure that tokens are interoperable on-chain with other applications, enforce all compliance rules in every transaction, and ensure, when necessary, that Fasanara and its fund administrator Apex Group have full control over FAST.‘’

Varun Paul, Senior Director and Business Lead for CBDC and Financial Market Infrastructure at Fireblocks, commented: “We are thrilled to collaborate with Fasanara on this pioneering step toward the tokenization of money market funds. FAST exemplifies how financial institutions can leverage blockchain technology to deliver greater efficiency, transparency, and security in traditional assets, all while adhering to rigorous compliance standards. Thanks to the seamless integration of Tokeny’s smart contract capabilities with Fireblocks’ secure infrastructure, we’re helping to redefine operational standards and facilitate seamless digital asset management for the next generation of financial products.”

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, said: “We’re excited that Fasanara is adopting the Chainlink standard to bring AUM verifications and NAV data on-chain. This will show how Chainlink’s essential infrastructure for tokenized assets can help leading financial institutions enhance the utility, accessibility, and transparency of assets on-chain while paving the way for cross-chain interoperability through protocols like CCIP, accelerating the widespread adoption of tokenized assets.”

Philippe Bekhazi, CEO and founder of XBTO, commented: “We are proud to leverage our bankruptcy-remote digital asset services platform to provide unparalleled security for FAST. This partnership with Fasanara not only underscores our commitment to asset protection but also sets a new standard for safeguarding digital assets within a tokenized framework. By utilizing blockchain’s efficiency, we are advancing secure, transparent access to traditional financial products in a rapidly evolving market.”

About Fasanara

Fasanara is an institutional investment manager that offers tech-enabled asset-based credit and digital assets solutions. Founded in 2011, Fasanara currently manages over $4 billion in assets under management, and is focused on delivering uncorrelated returns through a technology-centric and systematic investment approach. Fasanara operates one of the largest and best-performing institutional market-neutral digital asset hedge funds globally.

Fasanara offers institutional-grade investment opportunities across niche asset classes within specialty finance and digital assets. Fasanara’s digital asset operation was set up in 2018 and has grown to become a top liquidity provider to major exchanges worldwide. Within 2024 alone, Fasanara had transacted over $250 billion in crypto market volumes. Fasanara is authorised and regulated by the Financial Conduct Authority (Firm reference number: 551020).

About Polygon Technology

Polygon PoS is a blockchain scaling solution that enables faster, more cost-effective transactions on the Ethereum blockchain. As one of the most popular Layer 2 solutions, Polygon PoS provides a high-performance infrastructure for decentralized applications and financial products, supporting a growing ecosystem of tokenized assets, including funds like FAST, that benefit from enhanced speed, security, and scalability.

About Apex Group

Apex Group is dedicated to driving positive change in financial services while supporting the growth and ambitions of asset managers, allocators, financial institutions, and family offices. Established in Bermuda in 2003, the Group has continually disrupted the industry through its investment in innovation and talent. Today, Apex Group sets the pace in fund and asset servicing and stands out for its unique single-source solution and unified cross asset-class platform which supports the entire value chain, harnesses leading innovative technology, and benefits from cross-jurisdictional expertise delivered by a long-standing management team and over 13,000 highly integrated professionals.

About Chainlink

Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $17 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link

About Fireblocks

Fireblocks is an easy-to-use platform to create new blockchain-based products, and manage day-to-day digital asset operations. Exchanges, banks, PSPs, lending desks, custodians, trading desks, and hedge funds can securely scale their digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of organizations in the financial, payments, and web3 space, has secured the transfer of over $6 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. Find out why CISOs and Ops Teams love Fireblocks at www.fireblocks.com

About Tokeny

Tokeny is a leading on-chain finance operating system. Tokeny has pioneered compliant tokenization with the open-source ERC-3643 standard. It provides an enterprise-grade platform and APIs to enable seamless issuance, transfer, and management of tokenized securities. By automating operations, offering innovative on-chain services, and connecting with any desired distributors, Tokeny helps financial actors attract more clients and improve liquidity.

About XBTO

A crypto pioneer since 2015, XBTO is a digitally-native, regulated firm specializing in capital markets and asset management. With expertise in quantitative investing, derivatives trading, tokenization, and market-making, XBTO provides secure, high-performance solutions tailored to meet the needs of investors and institutions.

Disclaimer

Accuracy of information

Whilst considerable care has been taken to ensure the information contained within this press release (the “Press Release”) is accurate and up to date, no warranty, guarantee or representation is given as to the accuracy, reliability or completeness of any information and no liability is accepted for any errors or omissions in such information. The information included in the Press Release has been produced by Fasanara Capital Ltd and its affiliates, as appropriate (“Fasanara Group”). Fasanara Capital Ltd is authorised and regulated by the Financial Conduct Authority (the “FCA”), with the FRN: 551020.

Some of the information in the Press Release may contain projections or other forward-looking statements regarding future events or future financial performance of products, markets or companies. These statements are only predictions, opinions or estimates made on a general basis and actual events or results may differ materially. No information in the Press Release constitutes investment, tax, legal or any other advice.

Any investment strategies, products and services referred to in the Press Release are subject to change without notice. Fasanara Group may amend this Press Release (including this Disclaimer) and its investment strategies, products and services at any time with or would notice. Fasanara Group is under no obligation to update this Press Release or to correct inaccuracies which may become apparent. Fasanara Group shall have no liability for any direct, indirect, consequential or special losses or damages of any kind whatsoever arising from or in connection with any use of the Press Release or its contents.

No information, whether oral or written, obtained by or from this Press Release or from any conversation with Fasanara Group staff or a professional consultant will have the effect of varying this Disclaimer

Not an offer

This Press Release is provided for information purposes only, and does not constitute either an offer, invitation, inducement or a solicitation to buy or sell any securities or investment products nor is it a recommendation for any security or investment product. This Press Release is qualified in its entirety by reference to the more comprehensive information memorandum and any supplements thereof in respect of FAST (the “Information Memorandum”) (as amended or supplemented from time to time) and the subscription documents related thereto. Please also refer to Important Information in the Information Memorandum.

The information contained in the Press Release is not directed at or intended for distribution to, or use by, any person in any jurisdiction or country where such use or distribution would be contrary to any applicable local law or regulation or would subject Fasanara Group to any registration or licensing requirement in such jurisdiction. Accordingly, unless an exemption under the relevant securities law is applicable, and/or in case that you would ask for access to any materials relating to any securities or investment products from Fasanara Group referred to in this Press Release from your own initiative only (by means of “reverse solicitation”, “reverse enquiry”, “private placement non solicitation” or other similar regulation), any securities or investment products referenced in the Press Release may not be offered, sold, resold, taken up, exercised, renounced, transferred or delivered, directly or indirectly, in or into any jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration thereof in, such jurisdiction. It is your responsibility to inform yourself of any applicable legal and regulatory restrictions and to ensure that your access and use of this information does not contravene any such restrictions and to observe all applicable laws and regulations of any relevant jurisdiction. Professional advice should be sought in cases of doubt, as any failure to do so may constitute a breach of the securities laws in any such jurisdiction.

Interests in FAST have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or qualified under any applicable U.S. state securities statutes, and such interests may not be offered, sold or transferred in the United States of America (including its territories and possessions) or to or for the benefit of, directly or indirectly, any U.S. Person (as defined in the following sentence), except pursuant to registration or an exemption. In this context, a “U.S. Person” is a person who is in either of the following two categories: (a) a person included in the definition of “U.S. person” under Rule 902(k) of Regulation S under the 1933 Act or (b) a person excluded from the definition of a “Non-United States person” as used in CFTC Rule 4.7. Any investment vehicles referred to herein have not been and will not be registered as an investment company under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”). Interests in FAST are subject to restrictions on transferability and resale and may not be transferred or resold in the United States or to any U.S. Person except as permitted under the 1933 Act and applicable state securities laws, pursuant to registration or exemption therefrom.

No investment advice

This Press Release is provided for information purposes only. Nothing in this Press Release will constitute legal, tax or investment advice or recommendations. Any funds or investment products described may not be available to, or suitable for, all investors. In addition, current levels, bases and reliefs from tax depend on individual circumstances, which may also change in the future. Investors should not invest in any funds or investment products referred to in this Press Release unless they understand its nature and the extent to their exposure to risk. Independent professional advice from a suitable authorised person, including tax advice, should be sought before making an investment decision.

Investment risk

The value of any investment made in any funds or investment products referred to in this Press Release and the income from such can go down as well as up, and the investor may not get back the full amount invested. Past performance is not a guarantee of future returns. Changes in the rate of exchange may also cause the value of overseas investments to go up or down. Funds and investment products that invest in asset classes carrying greater risk may have a higher risk of loss of capital.

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