The Block Crypto News12 minutes ago

Published on June 17, 2024 15:06 GMT+00:00edited on June 17, 2024 15:09 GMT+00:00

FalconX has launched tokenized treasury fund trading as some investors’ appetites for U.S. government-issued securities grow.  

The crypto-focused prime brokerage executed its first trade on June 11, a FalconX representative told The Block. USTB is a digital token representing short-term debt securities issued by the U.S. government that can be traded on public blockchains. 

The firm's trading support for the token comes as U.S. T-bills continue to offer yields above 5% following the Federal Reserve's rate hikes aimed at curbing inflation. As a result, some risk-averse traders are investing in T-bill-backed digital assets instead of stablecoins, which can experience price volatility if they depeg from their underlying assets. 

FalconX's rollout of USTB trading marks …