Archax, a U.K.-regulated crypto exchange, has acquired a U.S. broker-dealer, Globacap Private Markets Inc, regulated by FINRA and the SEC. The newly named Archax Markets US will target institutional and professional investors in the U.S. Archax specializes in tokenized real-world assets (RWAs) like money market funds, corporate bonds, carbon credits, and uranium. A recent example is their tokenized Treasury fund on XRP Ledger with Abrdn, which attracted $45 million in deposits, ranking it among the top 10 products by assets under management. The firm plans to expand into tokenized U.S. equities and bonds, utilizing blockchains such as Ethereum, Polygon, Solana, Hedera Hashgraph, and XRP Ledger. This move follows Archax’s acquisition of a Spanish brokerage firm to extend services to the European Union. The tokenization sector is rapidly growing, with asset manager Fidelity Investments filing to launch a tokenized money market fund and exploring a stablecoin. Meanwhile, derivatives exchange CME Group is testing tokenization with Google Cloud, planning new services for next year, and the New York Stock Exchange’s parent company is partnering with Circle to develop services using the USDC stablecoin and tokenized fund USYC.
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