Cardano Joins First Tokenized Reinsurance Fund with MembersCap
Cardano #ADA has joined MembersCap's tokenization reinsurance fund, "MCM Fund I," marking a pioneering institutional-grade offering in the industry. This fund is supported by multiple blockchains, including Aptos, Base, and Solana.
Key Developments:
- MembersCap is the first fund to launch and record a transaction on London Stock Exchange Group’s DMI platform.
- The fund was developed in collaboration with Cardano Foundation and Archax, supported by Coinbase, Apex Group, Hannover Re, Envelop Risk, and Northern Trust.
- The fund offers both tokenized and traditional investment options, signaling an evolution towards institutional-grade blockchain adoption.
Cardano's involvement highlights its role as a bridge between decentralized innovation and global finance, validated by real-world applications.
Following the announcement, Cardano's price increased by 0.85% to $0.8233, with a market cap of $29.45 billion. However, ADA's 24-hour trading volume dropped by 33.73%, indicating reduced trader engagement.
Additional News:
Bitcoin Hyper (HYPER) has raised $17.7 million in its presale, offering early investors staking rewards up to 66% APY. The current price is $0.012965.