Fidelity plans to launch its first money market fund traded on the blockchain

ChainCatcher news, according to The Information, Fidelity plans to launch its first money market fund traded on the blockchain. This is the latest attempt by this traditional financial giant to accelerate financial transactions and expand product audiences.

It is reported that Fidelity had previously submitted relevant documents to the U.S. Securities and Exchange Commission on September 26, detailing its plan. By launching this fund, Fidelity will compete with BlackRock, the world's largest asset management company with a similar fund, which has attracted more than $500 million in investor funds.