Renowned investment management company, VanEck has partnered with Securitize to launch its first tokenized fund. The firm made the announcement through an official blog post on Tuesday.Â
According to the statement, the newly launched fund—VanEck Treasury Fund, Ltd. (VBILL) will provide investors with secure and real-time access to US Treasury-backed assets. As revealed, the fund is available on Ethereum, Solana, BNB Chain, and Avalanche blockchains.
As per the announcement, the fund is specifically designed for institutional investors with a minimum subscription of $100,000 for investments on Solana, BNB Chain, and Avalanche. Meanwhile, entry for investment on the Ethereum blockchain is pegged at $1,000,000.
Additionally, the share of the funds will be issued and recorded on the aforementioned blockchain to ensure transparency and faster transaction completion time.
Furthermore, to enhance seamless transfer and cross-chain interoperability across the networks, the fund will depend on Wormhole infrastructure. Likewise, the VBILL is available for round-the-clock issuance thanks to USDC onramps.
This helps position the fund as an integral innovation for on-chain financial market participants. Built with utility in mind, the VBILL will serve key functions including atomic liquidity through Agora’s USD stablecoin.
Executives’ insight into the launching of the VBLL fund
The Director of Digital Assets Product at VanEck, Kyle DaCruz said the fund is an attempt to bring the US Treasuries on-chain. By that, the executive said it is implementing a secure, transparent, and liquid tool for cash management.
The director added that the fund will further help integrate virtual assets into the traditional finance sphere. Kyle DaCruz added that the launching of the VBILL further highlights the commitment of the firm to offering value to investors.
Additionally, the Co-founder and CEO of Securitize, Carlos Domingo said VBILL is a result of the integrated efforts of the partners to create fresh market opportunities. The CEO stated the innovation will enhance how investors access tokenized securities.
Side note on the partnership between VanEck and Securitize
In the blog post, Securitize describes itself as a top platform for real-world assets, having more than $3.9 billion in tokenized securities. As part of the partnership, the investment management firm disclosed that the VBILL will leverage some key integrated services of Securitize to improve operational efficiency, market access, and many others.
More so, some of the services include tokenization, fund administration, transfer agency, and many more. Key insights into the structure of the fund underline how RedStone will offer an oracle network for daily net asset value (NAV) calculations.
Similarly, firms like State Street Bank and Trust Company will offer custody services for the fund’s assets.
Read More: