Moreliquid, a digital assets platform that provides comprehensive services to asset managers for tokenised securities, a partnership with Luxembourg-based fintech firm Tokeny on Tuesday 19 March. This collaboration aims to transform the HSBC Euro Liquidity Fund by creating the Moreliquid Money Market EUR (MMMEUR) token. The partnership signifies an important development in merging traditional financial practices with blockchain technology, targeting institutional and high-net-worth investors interested in exploring the Euro money markets efficiently, stated the press release.
Regulated under the laws of the grand duchy, the MMMEUR token offers monthly coupon payments to investors, serving as a dependable income source. The token grants qualified investors access to a diversified portfolio of short-term securities, which meet criteria for maturity, issuer reputation, market listing and credit ratings, ensuring compliance with regulatory standards, affirmed Tokeny in the press statement.
With a minimum investment of €100,000, the MMMEUR token is designed for residents of the European economic area, focusing on institutional and high-net-worth individuals keen on the Euro liquidity market.
Moreliquid has improved the MMMEUR token’s functionality by allowing its management, transfer or use as collateral for loans, offering investors enhanced liquidity, versatility and security. Issued on the Polygon network, the token utilises Moreliquid’s secure and compliant decentralised finance platform, merging traditional financial practices with blockchain technology to provide investors with greater control and flexibility, stated the announcement.
The MMMEUR token can be purchased directly through cryptocurrency wallets, conforming to the open-source ERC3643 standard for issuance. Copper and Dfns have been selected for wallet management and infrastructure, respectively, ensuring the security and regulatory compliance of the token.
Luc Falempin, CEO of Tokeny, commented on the partnership, noting the growing demand for money market funds in the blockchain sector and the potential for this initiative to bring significant assets onto the blockchain. Falempin added that the collaboration seeks to broaden the market and introduce new use cases for the industry.
Clement Daudy, CEO of Moreliquid, highlighted the increasing movement among asset managers towards digital finance to reduce costs and access a wider investor base, facilitated by regulatory clarity in Europe on the tokenisation of financial assets.