- The firm is partnering with smart contract repository OpenEden to do so
- Finblox aims to open up a trillion-dollar market to Web3 users.
- The company plans a Series A funding round
Hong Kong-based crypto investment company Finblox announced the launch of a new solution. The proposal is to allow investors to earn income from tokenized U.S. Treasury bills (T-bills) on their Stablecoins. The decision aims to bridge the gap between cryptocurrency and traditional finance.
The investment company said that stable coins cannot provide sufficient returns and that cryptocurrency lending carries risks, as evidenced by the situation in the crypto market over the past month.
The company proposes a new idea to tokenize rights on U.S. Treasury bills (T-Bills), allowing investors to access financial assets with the highest AAA rating. In conjunction with smart contracts platform OpenEden, Finblox aims to open up a trillion-dollar market to Web3 users.
Tokenization of U.S. Treasury bills (US T-Bills) involves converting the rights to these assets into digital tokens that can be traded. Thanks to the Finblox platform, users can take advantage of the revenue generated by these tokenized T-Bills.
The tokens being created are fragments of Treasury bills (T-Bills), which typically provide yields ranging from 4.5% to 5.2%, depending on specific T-Bills characteristics.
Finblox also plans to hold a Series A funding round by mid-2024. In March, the company raised $3.9 million from fintech and cryptocurrency investors, including Dragonfly Capital, Sequoia Capital India and Saison Capital.