VanEck Crypto Asset Management, the crypto asset management giant, has said that a project is showing major signs of adoption by institutions.
It’s a brand new world reportVanEck highlights Hedera’s (HBAR) growth, noting that in July the price of Hedera rose by over 70%. “wave of partnerships, network growth, and broadening institutional legitimization.”
VanEck named several Hedera was adopted by many notable institutions in July. The Reserve Bank of Australia is one of them. Project AcaciaThe study aims to examine the evolution of Australian wholesale tokenized Markets for assets
VanEck writes that Archax – the UK’s first globally regulated digital asset exchange – has announced the use of the Hedera system for settlement.
“Institutional tokenization activity is also emerging. In late July, Archax created Hedera token contracts named after BlackRock, Fidelity ILF, State Street, Aberdeen Investments, and LGIM. Archax’s CEO confirmed these represent money market funds that could soon transact in HBAR, signaling early but still prelaunch interest in real-world asset tokenization on the network.”
According to VanEck stablecoins have exploded in Hedera. DefiLlama data shows Hedera stablecoins is almost exclusively driven by Circle USDC.
“Hedera’s on-chain activity was strong as Hedera’s transactions surged as did the supply of stablecoins on its blockchain.”
HBAR was trading for $0.24 at the time this article was written, with a $10.3 billion market capitalization.
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