Cryptocurrency trading platform Archax will launch trading pairs for Abrdn money market funds and Bitcoin in early next year.

On December 4th, according to BlockBeats news, asset management company abrdn announced its partnership with Archax, a cryptocurrency trading platform, with the aim of tokenizing traditional financial (TradFi) assets and striving for a leading position in this emerging field. They plan to develop a regulatory environment for tokenizing and trading various types of assets. This move marks the integration of traditional finance and blockchain technology, which could completely change the way assets are handled and traded. In early 2022, Archax will launch abrdn Money Market Fund (MMF) tokens and Bitcoin (BTC) trading pairs. In other words, users can exchange Bitcoin for USD MMF tokens instead of exchanging BTC for USD or USDC. The obvious next step (although the company has not publicly discussed this so far) is to use MMF ownership tokens as collateral. As previously reported by BlockBeats, in November last year, Archax, a digital asset trading platform, completed a Series A funding round of $28.5 million, with abrdn leading the investment.