In 2023 Mastercard unveiled its Multi-Token Network (MTN) for tokenized deposits and tokenized assets. It acts as a blockchain settlement network, integrating public and private blockchains to create a bank supported settlement infrastructure. Now real world asset (RWA) tokenization firm, Ondo Finance, is enabling its OUSG money market fund (MMF) as an investment for members of the MTN network.
OUSG mainly uses BlackRock’s BUIDL money market fund as collateral for OUSG, a fund that’s available to accredited investors. It recently expanded its collateral by adding Franklin Templeton’s FOBXX, as well as tokenized funds from Wellington Management and WisdomTree.
A key benefit of tokenization is the ability to transfer assets around the world 24/7. But money market funds don’t work 24/7. They usually have a narrow daily time window for redemption.
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