Dechert Advises Fasanara Capital Ltd on Launch of First Tokenized Money Market Fund

Dechert advised Fasanara Capital Ltd (Fasanara), a London-based institutional investment manager with over US$4 billion in assets, on launching its first tokenized money market fund. This innovative product combines the stability of traditional money market investments with the operational efficiency of blockchain technology. Our team worked closely with Fasanara and key service providers on all aspects of the fund structure, product solution development, and legal documentation.

Fasanara's first tokenized money market fund offers investors daily liquidity, with ownership of shares maintained on the Polygon blockchain, with the ability to integrate other blockchains in the future. Investors can subscribe for shares using digital assets and earn stable yields without leaving the blockchain ecosystem. As one of the first of its kind, Fasanara's tokenized money market fund seeks to significantly reduce settlement times, increase operational efficiency, and provide greater transparency to investors by offering real-time tracking through a bespoke-built platform maintained by the fund administrator.

Satjeet Sahota, General Counsel, Chief Compliance Officer and Head of Special Projects at Fasanara added "We are excited to launch our first tokenized money market. This marks a significant step in combining the stability of TradFi with the efficiencies and transparency of blockchain technology. We are delighted to partner with Dechert as our counsel on the evolving legal and compliance framework in this dynamic space."

The Dechert team was led by financial services partner Craig Borthwick and associate Dona Treska, with support from financial services partners Brenden Carroll and Neel Maitra; financial services counsel Laurel Neale; corporate associate Nicolas Kokkinos; tax partners Joseph Riley and Mansi Seth and associate Zhujing Wu.

Dona Treska remarked: "The future of finance is digital, and this significant launch, one of the first of its kind in the market, bring us a step closer to it."

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital - from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients' rights in extreme situations. Our nearly 1,000 lawyers across 19 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.