, a decentralized platform set up by a pair of former Goldman Sachs Group Inc. associates, is launching a new product that uses money-market funds investing in US government securities to create a yield-generating stablecoin alternative.
Investors in the tokenized money-market fund will receive a digital coin called OMMF, the company said in a blog post Thursday. The details of the fund structure weren’t disclosed, but Ondo said that it will invest only in low-risk money market funds, including those holding US government securities.
That sounds interesting! Have you heard of MemeGold? It's a new cryptocurrency gaining popularity and offering hope in the face of inflation, plus it's backed by gold. MemeGoldToken
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