Asset Manager Vanek has joined the roster of participating in the race to launch the first tokenized fund and to introduce assets on-chain along with Tokenz.
Developed with Tokenization Specialist Security, the Vaneck Treasury Fund (VBill) provides chain access to short-term US Treasury debts and is available at Avalanche avax$24.71,BNB Chain BNB$655.23Ethereum ETH$2,524.04 And Solana Sol$174.26 Network, according to a press release on Tuesday.
“By bringing the US Treasury on-chain, we provide investors with a safe, transparent liquid tool for cash management, further integrating digital assets into mainstream financial markets,” said Kyle Dacruz, director of digital asset products at Vaneck. “Tokenized funds like VBILL highlight our commitment to increasing market liquidity and efficiency and providing value to investors.”
Vaneck also publishes Spot Bitcoin BTC$103,558.11 and ether ETH$2,524.04 ETFs follow in the footsteps of BlackRock, Franklin Templeton and other traditional financial companies launching tokenized products. Tokenization is the process of placing equipment such as bonds, credits, products, and blockchain rail real estate in token format.
The traditional reserve asset, US Treasury tokenization, was at the forefront of these efforts. It is currently a market of nearly $7 billion, with an increase of over 500% over the past year for each RWA.xyz data.
VBILL is accessible to eligible investors with a minimum of $100,000 investment on most blockchains, and Ethereum has a minimum of $1 million subscription. The fund’s assets are held by State Street and are priced daily using Redstone Oracle Services data.
The token supports around the clock-on-ramp using Circle’s USDC Stablecoin. It also provides atomic fluidity using Agora’s AUSD Stablecoin. This means that you can redeem VBill tokens for these tokens in one transaction via Smart Contract. Agora is a stubcoin startup created by Nick Van Eck, the grandson of Vanek’s founder.
