Fidelity plans to launch its first money market fund traded on the blockchain

ChainCatcher news, according to The Information, Fidelity plans to launch its first money market fund traded on the blockchain. This is the latest attempt by the traditional financial giant to accelerate financial transactions and expand its product audience.

It is reported that Fidelity had previously submitted relevant documents to U.S. securities regulators on September 26, detailing its plans. By launching this fund, Fidelity will compete with BlackRock, the world's largest asset management company that has similar funds, which have attracted over $500 million in investor capital.