HBAR, the Hedera network’s own token, increased by nearly 110% with a BlackRock statement. The announcement that BlackRock was involved in the tokenization of a fund caused a huge misunderstanding.

HBAR Foundation announced yesterday that BlackRock’s ICS US Treasury bond money market fund has been tokenized on the Hedera blockchain. Tokenization was carried out by blockchain infrastructure companies Archax and Ownera at their own request, without any cooperation with BlackRock.

The fact that Hedera’s statement was made in a way that meant that a partnership had been established with BlackRock made the price skyrocket! The price rose above $0.18 but later dropped to $0.11.

Responding to the huge reactions on social media and allegations of market manipulation, Archax CEO said, “As Archax, this was only our choice. “There is no other situation,” he said.

As it is known, BlackRock company made a resounding entry into the field of tokenization of real-world assets, also called RWA. The company, which manages $10 trillion, had launched the USD Institutional Digital Liquidity Fund on Ethereum. The BUIDL token issued for this purpose is also backed by cash US dollars, US Treasury bonds and repurchase agreements.

It was published:

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Source: https://uzmancoin.com/hedera-hbar-tokenizasyon-blackrock/

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