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Startup Arca Seeks Sec Approval For Us Treasury Bond-backed Stablecoin

by coindesk.com posted 4months ago 10 views
Arca Investment Management is seeking approval from the SEC to sell a new type of stablecoin to retail investors. : The Los Angeles-based digital asset manager filed a prospectus with the Securities and Exchange Commission (SEC) Friday for a bond fund whose shares would be tokenized on the ethereum blockchain. Arca hopes the SEC will approve the product later this year, a spokesperson said. The Arca U.S. Treasury Fund would be available to the general public, but not traded on any stock exchange or alternative trading system, according to the filing.

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