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New product offers stablecoin users regulated yields while linking DeFi strategies with traditional finance.
Oct 2, 2025, 12:00 p.m.
AlloyX, a Hong Kong-based stablecoin infrastructure firm, has introduced a tokenized money market fund called RYT, debuted on Ethereum scaling network Polygon with custody services provided by Standard Chartered Bank.
Unlike traditional tokenized money market funds, which offer passive exposure, RYT integrates with decentralized finance (DeFi) to create yield-enhancing strategies, while staying within a compliance framework recognizable to auditors and regulators, AlloyX said in a press release on Thursday.
The stablecoin ecosystem has been growing exponentially over the last few years to a $280 billion market capitalization according to DeFiLlama data. Tether’s USDT and Circle’s USDC remain the dominant stablecoins making up over 80% of the sector.
Last month, AlloyX was acquired by Solowin Holdings (SWIN), a Hong Kong-based, publicly-traded investment holding firm, for $350 million to bolster an expansion into emerging markets.
The deal promises T+1 settlement cycles, which means securities transactions settle one business day after the trade date, and the release of selected fund data on-chain, giving investors greater transparency while keeping operations inside a regulated framework.
Polygon Labs is supporting the rollout with technical integration and ecosystem growth efforts. RYT will remain exclusive to Polygon during its initial launch period before expanding to other networks, the companies said.
“With Polygon-based looping to amplify utility and bank-grade tokenized MMF rails supplying the underlying cash component, RYT aims to bridge DeFi liquidity with a transparent, audited cash management layer—while keeping issuance, custody and reconciliation squarely within a regulated framework,” said Dr. Thomas Zhu, Co-Founder and CEO of AlloyX Group.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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