Tokenized Money Market Fund (MMFs)

BUIDL is a non-voting share in a private British Virgin Islands fund, recorded as a permissioned token across approved blockchains. BlackRock manages cash, short U.S. Treasury obligations and secured repos; BNY Mellon holds and administers fund assets; Securitize maintains the shareholder record and token controls. Eligible investors can request fund redemption under offering terms, while USDC, RLUSD and trading integrations are separate liquidity routes. The $1 objective and distributions do not make BUIDL an insured stablecoin.

EUTBL is the EUR share of a French UCITS short-term VNAV money-market sub-fund, recorded as permissioned tokens on public ledgers. Holders have proportional rights in the fund, while subscriptions, transfers and redemptions remain governed by the prospectus, allowlisting and fund operators.

USTBL is a USD share in a French UCITS money-market fund whose shareholder register runs on public blockchains. Its daily NAV can resemble a yield token, but ownership, eligibility and redemption still pass through a regulated fund and permissioned operators.

BRSRV is the onchain representation of RSVXX shares in a new BlackRock government money-market fund. Holders receive fund income and voting rights, while Securitize administers identity and wallet approval and controls transfers, minting, burning and recovery.

This project focuses on the tokenization of Fidelity International's Money Market Fund by Sygnum Bank, specifically the Fidelity Institutional Liquidity Fund (ILF) USD Fund Class G Acc. Sygnum Bank is the token issuer of the above mentioned.

Fidelity and Sygnum launched FILQ-A to give digital-asset treasuries a dollar-liquidity fund share usable beyond traditional market hours. Orders may be submitted around the clock, while processing, liquidity and legal ownership still follow the fund’s operating rules and Apex’s blockchain-integrated register.