FIDELITY FILES FOR ETHEREUM-BASED US TREASURY FUND ‘ONCHAIN'

Summary from the TLDR Crypto newsletter

Fidelity plans to register a tokenized version of its US Treasury Digital Fund, “OnChain,” on Ethereum for improved transparency and tracking. While the blockchain will serve as a secondary, reconciled record of share ownership, official records will continue to be maintained via traditional book-entry systems. If approved, it is expected to go live on May 30. The $80 million fund is primarily composed of US Treasury bills.