BlackRock Was Aware of Hedera Tokenization, Says MMF Project Partner

IconCrypto News Terminal24 Apr, 2024

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BlackRock Was Aware of Hedera Tokenization, Says MMF Project Partner

Amidst the recent debate regarding the “relationship with BlackRock” in relation to Layer 1 blockchain Hedera’s (HBAR) BlackRock MMF Tokenization Project, Graham, the CEO of UK-based virtual asset service provider (VASP) Archax, a collaborator in the project, stated via Twitter that "The tokenization of BlackRock’s ICS US Treasury Money Market Fund (MMF) on the Hedera chain was something that all relevant parties were aware of. We always consult with issuers before tokenizing their assets on-chain.” Previously on April 24, 2024, Cointelegraph reported that the project was not an official partnership with BlackRock, as “the price of the token spiked after Hedera posted a Medium blog post the previous day that appeared to suggest it had entered into a partnership with BlackRock. This led many traders to mistakenly believe that Hedera and BlackRock had formed a formal partnership, a narrative that was further propagated by irresponsible sharing of the Medium article on Twitter.”

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