Fidelity launches tokenized market fund with Ondo as anchor partner

Fidelity has launched the Fidelity Digital Interest Token (FDIT), an on-chain money market fund backed by mostly U.S. Treasuries, mainly from Ondo Finance's Short-Term U.S. Treasuries Fund (OUSG) as the only anchor and largest investor. According to Ondo, OUSG makes up more than 99% of FDIT assets at this time. The launch is yet another milestone in the continued efforts by major asset managers to tokenize traditional financial products. Fidelity now joins BlackRock, Franklin Templeton, and WisdomTree i ...