Dechert advises on blockchain fund launch
Dechert supported Fasanara Capital in launching a groundbreaking tokenised money market fund with blockchain technology
Global law firm Dechert has advised Fasanara Capital Ltd, a London-based investment manager with over $4 billion in assets, on the launch of its first tokenised money market fund. This innovative financial product combines traditional money market stability with blockchain’s operational efficiency.
The fund offers daily liquidity, with ownership recorded on the Polygon blockchain and future integration with other blockchains planned. Investors can subscribe using digital assets and earn stable yields while remaining within the blockchain ecosystem. By leveraging blockchain, the fund aims to reduce settlement times, improve operational efficiency, and provide real-time transparency through a bespoke platform maintained by the fund administrator.
Dechert’s multidisciplinary team, led by financial services partner Craig Borthwick, advised Fasanara on fund structuring, product development, and legal documentation. Associate Dona Treska noted, “The future of finance is digital, and this significant launch, one of the first of its kind in the market, brings us a step closer to it.”
Satjeet Sahota, General Counsel at Fasanara, described the launch as a major step in blending traditional finance (TradFi) with blockchain benefits. “We are delighted to partner with Dechert as our counsel on the evolving legal and compliance framework in this dynamic space,” he said.