Core Insights - Standard Chartered has launched a tokenized money-market fund called RYT in collaboration with AlloyX and Polygon Labs, aiming to connect decentralized finance (DeFi) with traditional banking frameworks [1][2] - The fund will initially be available exclusively on the Polygon network, with plans to expand to other blockchains in the future [2] - The launch is part of Standard Chartered's broader digital assets strategy, which includes regulated trading services and a focus on tokenized money-market funds [3] Company Developments - RYT combines on-chain transparency with a regulated structure and T+1 settlement, with Standard Chartered handling custody and Polygon Labs supporting the rollout [2] - Polygon's native token, POL, has seen a price increase of approximately 3-4% recently, with a market capitalization of around $2.5 billion [4] - The MATIC-to-POL migration was completed in September, with about 99% of tokens converted, indicating a significant transition for the network [4] Industry Trends - Polygon has reported strong usage metrics, including hundreds of thousands of daily active addresses and millions of daily transactions, which are attractive to real-world asset issuers [5] - The stablecoin activity on Polygon has surged, with daily transactions increasing by over 900% since 2023, highlighting the network's growing importance [6] - Analysts note that the increase in stablecoin transfers indicates Polygon is becoming a more critical payment network, capable of facilitating fast and cost-effective transactions at scale [7]
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