Tokenised Treasury products give onchain exposure to U.S. government debt or Treasury-focused money-market funds. On 6 October 2026, DigiFT—a digital-asset exchange licensed by Singapore’s Monetary Authority of Singapore (MAS)—announced tokenised access to interests in a U.S. Treasury money market fund managed by Fidelity Investments, open to institutional and accredited investors who meet DigiFT’s eligibility rules. [1]
A money market fund (MMF) typically holds short-dated, high-quality cash instruments. DigiFT says this fund holds cash and short-dated U.S. Treasuries. [1]
What Blockhead says is missing
Blockhead’s report is clear on two gaps in the announcement: it does not name the underlying fund and does not name the blockchain on which the tokens are issued. [1]
Those omissions matter for anyone trying to map the product to a specific Fidelity share class or to an onchain contract address. Treat the listing as DigiFT-described access to “a” Fidelity-managed U.S. Treasury MMF until primary product docs fill in the blanks.
Blockhead also notes that Fidelity has been building its own onchain plumbing—citing a 2025 filing for an “OnChain” share class of its Fidelity Treasury Digital Fund with ownership records mirrored on Ethereum—as context, not as proof that DigiFT’s product is that share class. [1]
How DigiFT frames GENIUS Act relevance
DigiFT points out that cash and short-dated Treasury holdings meet the reserve-asset criteria the GENIUS Act sets for U.S. payment stablecoin issuers—company framing about how short-duration collateral is judged in that market, not a regulatory determination that DigiFT’s tokens are approved stablecoin reserves. [1]
Cynthia Lo Bessette, Head of Digital Asset Management at Fidelity Investments, is quoted on tokenisation’s potential for access, liquidity and collateral utility. [1]
DigiFT’s company-reported track record
DigiFT holds Capital Markets Services and Recognised Market Operator licences from MAS. The company says it has completed 42 token issuances across cash management, income, equity, alternatives and crypto allocation, with more than US$435 million in total subscriptions settled—company-reported figures. The Fidelity listing extends a cash-management line that already includes a UBS Asset Management tokenised MMF launched on DigiFT in November 2024. [1]
Blockhead places the broader tokenised U.S. Treasury category at about US$14.8 billion distributed value on RWA.xyz (down about 6.6% over 30 days on that print), with Circle USYC, Ondo USDY and BlackRock BUIDL among the largest names—third-party tracker context, not DigiFT AUM. [1]
What this does not prove
- Which specific Fidelity fund or share class is referenced; the announcement does not name it. [1]
- Which blockchain hosts the tokens; also unnamed. [1]
- That DigiFT’s product can be posted as collateral on venues outside DigiFT; Blockhead flags that as an open question. [1]
- That GENIUS Act reserve criteria have been formally applied to this listing by a U.S. regulator.
No investment advice is offered here.
The Bottom Line
Singapore-licensed DigiFT has listed tokenised interests in a Fidelity-managed U.S. Treasury money market fund for eligible institutional and accredited investors, pitching cash-and-short-Treasury holdings as GENIUS Act-grade collateral framing. The public announcement still leaves the fund name and chain unnamed—so treat it as a platform listing news item, not a full product census.
Sources
- Blockhead, 6 October 2026 — https://www.blockhead.co/2026/10/06/digift-lists-tokenized-interests-in-fidelity-u-s-treasury-money-market-fund/
