Fidelity plans to launch blockchain-based money market fund

Fidelity is preparing to launch a money market fund that may be traded on the blockchain in the future. This is the latest move by traditional large money management companies to explore the use of blockchain technology to accelerate financial transactions and expand the audience of products. Recently, Fidelity submitted documents to the US SEC outlining the plan. By launching this fund, Fidelity will catch up with BlackRock. The latter already has a similar fund and has attracted more than $500 million in funds. (The Information)