Polygon and Standard Chartered Launch AlloyX Tokenized Money Market Fund RYT on Ethereum

Hong Kong stablecoin infrastructure firm AlloyX has launched RYT, a revolutionary tokenized money market fund deployed on Ethereum scaling solution Polygon with institutional custody services from Standard Chartered Bank. Unlike conventional tokenized funds offering passive exposure, RYT integrates advanced DeFi protocols to develop yield-enhancing strategies while maintaining full regulatory compliance, according to the company's official announcement. The stablecoin ecosystem has demonstrated explosive growth, reaching a $280 billion market capitalization according to DeFiLlama data, with Tether's USDT and Circle's USDC dominating over 80% of the market share. This development follows AlloyX's recent $350 million acquisition by Solowin Holdings (SWIN), a publicly-traded Hong Kong investment firm, accelerating expansion into emerging markets. The innovative fund structure enables T+1 settlement cycles and on-chain fund data transparency, providing investors enhanced visibility while operating within regulated parameters. Polygon Labs is providing comprehensive technical integration support, with RYT remaining exclusive to the Polygon network during its initial launch phase before multi-chain expansion. "Through Polygon-based liquidity amplification and institutional-grade tokenized MMF infrastructure delivering the core cash component, RYT bridges DeFi liquidity with transparent, audited cash management—while maintaining issuance, custody and reconciliation within regulated frameworks," stated Dr. Thomas Zhu, Co-Founder and CEO of AlloyX Group.