AFULF, issued by Archax Ltd, is a tokenized money market fund interest that represents an investor's beneficial ownership in the Fidelity ILF - The United States Dollar Fund, with each token tracking the underlying fund's net asset value [S1][S2].

Holders receive economic exposure to the Fidelity ILF - The United States Dollar Fund, a money market fund whose returns derive from underlying short-term debt investments including U.S. Treasury (T-bill) and related securities [S1][S2]. The product provides the stability and yield characteristics associated with money market funds. A money market fund is not a guaranteed investment, and principal can fluctuate, with any loss borne by the investor [S1].

The issuing entity is Archax Ltd, registered in England and Wales, company number 11302455, and authorised and regulated by the UK Financial Conduct Authority (FCA), Firm Reference Number 838656, under the Financial Services and Markets Act 2000 [S3][S4]. The token is a beneficial ownership token issued by Archax representing the investor's holding in the underlying fund [S1][S2]. It is offered to professional and institutional clients only [S1][S2]. Archax acts as regulated custodian, holding client assets under FCA custody permissions with CASS client asset segregation compliance [S1][S5].

The beneficial ownership tokens are available across multiple networks, with State Street, Fidelity International and LGIM offerings made available initially on Hedera Hashgraph, XRP Ledger (XRPL) and Arbitrum [S6]. Archax's chain-agnostic tokenisation engine mints tokens and supports issuance, secondary-market trading, and ongoing management including minting, burning and distributions via smart contracts [S7], enabling intraday transfer alongside traditional subscription and redemption [S1].

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    { id: "S1", url: "https://archax.com/insights/archax-increases-tokenised-money-market-fund-offerings" },
    { id: "S2", url: "https://archax.com/insights/federated-hermes-partners-with-archax-to-offer-tokenised-ucits-money-market-funds" },
    { id: "S3", url: "https://archax.com/about-us" },
    { id: "S4", url: "https://archax.com/regulatory-permissions" },
    { id: "S5", url: "https://archax.com/businesses/regulated_exchange" },
    { id: "S6", url: "https://archax.com/insights/archax-adds-state-street-fidelity-international-lgim-offerings-to-regulated-digital-platform" },
    { id: "S7", url: "https://archax.com/businesses/tokenisation" },
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Tokenized funds

Archax is an FCA-regulated digital asset exchange, custodian, and broker that tokenizes traditional financial instruments. The platform enables institutional access to tokenized money market funds from BlackRock, Fidelity, and State Street on multiple blockchains.

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Real-world asset (RWA) issuers

Archax

Fidelity ILF - The United States Dollar Fund (AFULF) is a tokenized fund share issued by Archax through Archax Ltd.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in money market instruments, and charges a 0.15% annual management fee.

Professional investors and institutions can subscribe and redeem in USD, with a USD 50,000 minimum and same- or next-business-day subscription settlement.

Archax Ltd is incorporated in the United Kingdom and is supervised by the UK Financial Conduct Authority (FCA).

AFULF has been issued on public blockchains since February 2025 and is native to XDC Network and Hedera.

Fidelity ILF - The United States Dollar FundAFULF

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