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Coinbase potentially set to launch tokenized money-market fund following BlackRock's success

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Coinbase's management arm, Coinbase Asset Management, is allegedly planning to launch its Real-World tokenized money-market fund, according to a new report on Wednesday.

CoinDesk report states that Coinbase Asset management is looking at launching Real-World Asset tokenized money fund. Coinbase Asset Management allegedly secured a partnership with Apex Group to help with the launch. BlackRock's BUIDL token has garnered attention towards tokenization following its $500 million success. Coinbase's management arm, Coinbase Asset Management, is allegedly planning to launch its Real-World tokenized money-market fund, according to a new report on Wednesday.

Coinbase has been shifting towards the launch of a tokenized asset since 2023 after the company received the go-ahead to store TradFi assets on-chain in Abu Dhabi. However, this new move may result from BlackRock's quick success following the launch of its BUIDL token. The asset manager saw its tokenized asset BUIDL fund hit a market value above $500 million after surpassing Franklin Templeton's FOBXX token.

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Coinbase Asset Management Plans Tokenized Money-Market Fund, a Hot Area After BlackRock's BUIDL Success: SourcesIan Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
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