Published Mar 19, 2024 · Sygnum
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.
Q1 earnings reveal crypto's biggest public companies are pivoting from hype-driven trading to diversified revenue — with Matter Labs highlighting the shift toward real-economy integration.
The Crypto Clarity Act returns to the Senate Banking Committee this week as the American Bankers Association mobilizes against it, warning that stablecoin reward loopholes could trigger a mass deposit flight from traditional banks.
