- The Canary HBAR ETF is now trading on the Hedera Network.
- First after-hours transaction executed on Thanksgiving.
- Regulated trading amid traditional market closures.
Archax has successfully tokenized the Canary HBAR ETF, marking the first after-hours trade on the Hedera mainnet utilizing the native HBAR token, during U.S. Thanksgiving closure.
This event demonstrates the viability of regulated, continuous trading cycles for tokenized ETFs, emphasizing blockchain’s potential in modern finance.
The tokenization of the U.S.-listed Canary HBAR ETF was carried out by Archax. This marks a significant milestone as it was followed by the first on-chain after-hours trade on the Hedera mainnet, utilizing HBAR as the underlying asset. Hedera’s Historic Canary ETF Launch Announced
Archax, a UK/EU-regulated digital asset exchange, facilitated this breakthrough. Graham Rodford, CEO of Archax, emphasized the integration of regulated financial products on-chain, highlighting its compliance and institutional appeal. The Hedera Network’s role was pivotal. As Rodford stated,
Tokenising the Canary HBR ETF on Hedera is a significant step forward in bridging traditional and digital markets. This initiative showcases how regulated financial products can exist and transact on-chain while maintaining the compliance and oversight expected by institutions.
Immediate effects include continuity of trading outside traditional hours, demonstrated by the trade executed on Thanksgiving. This highlights blockchain’s potential for 24/7 regulated asset trading, potentially influencing broader financial market operations. Archax Conducts Its First After-Hours Transaction
The tokenization effort underscores both regulatory-compliant and continuous trading capabilities in digital markets. It reflects technological advancements, with potential shifts in financial practices toward round-the-clock asset availability.
This event differentiates HBAR and Hedera, enhancing their market position through real-world application. It signifies a stride in merging traditional assets with blockchain capabilities, posing changes for ETFs and asset custody practices in financial markets. Tokenisation Solutions for Businesses by Archax
Insights point to future financial and regulatory outcomes, with continuous trading potentially easing market liquidity concerns. As technology advances, historical models may adapt to blockchain efficiency, fostering innovations in asset management and regulatory compliance.
