|CoinDesk
Crypto industry reacts after Clarity Act fails Senate vote
The Clarity Act fell short of 60 votes in the Senate. CoinDesk rounds up how crypto and banking leaders, including Matter Labs, are reading the outcome.
ZKsync News > Sygnum tokenizes Matter Labs’ ...
Published Mar 19, 2024 · Sygnum
Sygnum tokenizes Matter Labs’ treasury reserves in USD 6.9bn Fidelity MMF
Sygnum tokenizes $50M of Matter Labs' treasury reserves onto ZKsync, creating on-chain proof-of-reserves backed by Fidelity's $6.9B money market fund.
Sygnum Tokenizes Matter Labs Treasury on ZKsync
Sygnum Bank is tokenizing $50M of Matter Labs' treasury reserves onto the ZKsync blockchain, issuing security tokens representing units from Fidelity International's $6.9B Institutional Liquidity Fund.
The tokenized reserves create a transparent on-chain "Proof-of-Reserves," marking the first step in Matter Labs' strategy to move treasury reserves on-chain with institutional custodians.
This is also the first project leveraging Sygnum's multi-chain tokenization solution with traditional securities — bridging crypto and traditional finance infrastructure.
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