Fidelity International has officially entered the tokenized funds market with the launch of its Fidelity International USD Digital Liquidity Fund (FILQ), a blockchain-based liquidity product issued through Sygnum Bank’s Desygnate platform and integrated with the Chainlink oracle network. The fund carries a AAA-mf rating from Moody’s Ratings, the highest possible assessment for money market funds, signaling extreme credit quality and robust liquidity.
The FILQ operates under a permissioned model on the Ethereum network, where only approved wallets can transact, and ownership records are maintained by a transfer agent with smart contract controls. This structure combines traditional regulatory safeguards with the efficiency of on-chain settlement. JPMorgan provides approved daily net asset value (NAV) data, while Chainlink delivers that data on-chain, enabling near-real-time transparency for investors. The fund is accessible exclusively to qualified investors via Sygnum’s primary market platform, with asset custody kept off the bank’s balance sheet in compliance with Swiss regulations.
Fidelity International’s move builds on a 2024 collaboration with Sygnum and Chainlink to pilot on-chain NAV reporting for its $6.9 billion Institutional Liquidity Fund. The launch also coincides with a broader surge in tokenized real-world assets, as money market products from BlackRock, Franklin Templeton, and others approach $15 billion in assets under management. FILQ adds Fidelity’s global brand—the firm manages approximately $1 trillion in client assets—to this growing trend, signaling that major asset managers are embracing blockchain rails for traditional liquidity instruments.
