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Crypto

Ground raises $3.6 million to offer API for onchain yield products

Ground, a startup founded by former Superstate co-founder Reid Cumming, has closed a $3.6 million pre-seed funding round. The company provides a platform that lets fintech firms and asset managers access onchain yield products through an API. The round was co-led by Bain Capital Crypto and ParaFi, with participation from Nascent, Robot Ventures, Chapter One and CoinFund Ventures. Ground supports protocols including Aave, Morpho, Maple and Kamino.

Crypto

Invesco files to launch onchain money market fund for stablecoin reserves

Invesco has submitted an amended filing to the U.S. Securities and Exchange Commission to launch the Invesco Stablecoin Reserve Onchain Fund, a money market fund designed for stablecoin reserve assets. The product is set to be added to Invesco’s existing short-term investment trust portfolio. It will invest mainly in high-quality short-term assets such as U.S. Treasuries, repurchase agreements and cash equivalents, and aims to maintain a $1 net asset value per share.

Crypto

Ethereum-based tokenised U.S. Treasury market tops $8 billion

The market for tokenised U.S. Treasuries issued on Ethereum has grown to $8 billion in about six months, accelerating the convergence of mainstream finance and blockchain. Large financial firms including BlackRock, Franklin Templeton, Fidelity and WisdomTree have entered. Tokenised Treasuries split ownership into blockchain tokens, enabling 24-hour settlement and faster clearing. The products can also integrate with DeFi through programmable features such as collateral use and automated interest distribution.