DigiFT, a digital asset exchange licensed by the Monetary Authority of Singapore, has launched tokenized access to interests in a U.S. Treasury money market fund managed by Fidelity Investments, the company announced Tuesday. The product is open to institutional and accredited investors meeting DigiFT's eligibility requirements.
The announcement does not name the underlying fund or the blockchain used for issuance. Fidelity has separately been building on-chain infrastructure: in 2025 it filed to create an "OnChain" share class of its Fidelity Treasury Digital Fund, with ownership records mirrored on Ethereum. Cynthia Lo Bessette, Fidelity's Head of Digital Asset Management, said tokenization can expand access and enable "new forms of liquidity, collateral utility, and investment innovation."
DigiFT holds Capital Markets Services and Recognised Market Operator licences from MAS. It has completed 42 token issuances across cash management, income strategies, equity exposure, alternative assets and crypto allocation, with more than $435 million in total subscriptions settled. Tokenized U.S. Treasury products have about $14.8 billion in distributed value, though that figure is down 6.6% over 30 days, according to RWA.xyz. Circle’s USYC, Ondo’s USDY and BlackRock’s BUIDL each hold roughly $2.2 billion to $2.4 billion.
In a parallel development, HM Treasury named Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets as joint lead managers for the Digital Gilt Instrument (DIGIT), with the pilot expected by the first quarter of 2027. Economic Secretary Lucy Rigby said the short-dated bond will be issued directly on digital infrastructure with on-chain settlement inside the UK’s Digital Securities Sandbox. HSBC’s Orion platform will host the bond, and the government intends to list DIGIT on LSEG’s main market. The Bank of England has said it will work toward accepting DIGIT as collateral in market operations.
