Drew & Napier LLC Team Advised PhillipCapital on Ground-Breaking Tokenisation Distribution of Money Market Fund

Drew & Napier LLC Team Advised PhillipCapital on Ground-Breaking Tokenisation Distribution of Money Market Fund

Drew & Napier's Financial Services Regulation team advised PhillipCapital on the tokenised distribution of its money market fund - one of the first such initiatives in the market.

Token creation, redemption, and real-time net asset value (NAV) updates are recorded on a public blockchain, ensuring transparency and auditability. Institutional distribution has begun for professional and accredited investors, with retail access planned via the POEMS platform. The tMMF-USD will also be listed on the Alta Exchange, providing access to a global network of financial institutions.

This innovative launch integrates traditional financial governance with blockchain's transparency and efficiency, offering investors secure access to regulated products. Drew & Napier LLC continues to support tokenised distributions and offerings, helping fund managers, brokers, and organised markets bridge regulatory compliance with innovation in the capital markets.

The Drew & Napier LLC team, led by Grace Chong (Head of Financial Services Regulation, Director) and supported by Directors Ong Ken Loon and Lye Yuan Jun, and Senior Associate Theodore Tay, assisted PhillipCapital in launching the tokenised Phillip USD Money Market Fund (tMMF-USD), a blockchain-based version of its existing USD Money Market Fund developed under Singapore's regulated framework. The tokenised fund mirrors the underlying fund, with investors receiving digital tokens representing fund units.

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