Hassan Maishera
HBAR Foundation, the development team behind the Hedera blockchain, announced via X on Wednesday that Archax, the UK-regulated digital asset exchange, custodian, and brokerage, has launched its Pool Token functionality on the Hedera Network.
This launch facilitates on-chain, multi-asset portfolio or basket creation by putting a range of already tokenised assets into a new token. The range of underlying asset types can be wholly diverse too, from equity, debt, funds, and cryptocurrencies, allowing diverse investment strategies to be expressed in a single transferable token.
Archax revealed that the first Pool Token being minted on Hedera will hold equal parts of money market funds from four leading asset managers: Aberdeen, BlackRock, State Street, and Legal & General.
This new Pool Token functionality has several benefits:
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Instant Fund Creation: By minting a token, which holds a range of diverse underlying asset types, each of which could be individually accessed or utilised.
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Instant Transfers & Composability: Entire portfolios can be migrated across platforms in seconds without complex paperwork or transfer agents, eliminating traditional friction.
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Pool tokens as collateral: Archax’s Nest network is specifically designed to support the use of regulated digital assets as collateral between institutional counterparties, so it can facilitate the same with pool tokens. This also enables near-instant settlement - reducing market friction.
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Structured products: Combining low-risk instruments like treasuries or money market funds with higher-risk instruments such as cryptocurrencies.
Hedera Hashgraph is a distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.2371 at press time, up 0.4% over the last 24 hours.
