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Tokenized money market funds (TMMFs) are regulated money market funds that issue their shares as tokens onchain and invest in US Treasury bills. The interest those Treasuries earn flows back to end users as dividends.

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Capabilities

  • Subscribe, redeem, buy, and sell fund shares with stablecoins such as OUSD and USDC, starting at $1
  • Hold shares directly in non-custodial wallets
  • Query positions to display shares held, USD value, pending dividends, and in-flight orders
  • Receive dividends that accrue daily and pay out monthly in stablecoins

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Choose your integration

API integrations require the fund issuer to review and approve your app’s UI before launch to ensure compliance.

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Liquidity

End users can trade fund shares in two markets:
  • Primary market: end users subscribe and redeem directly with the fund. Orders placed before the daily 3:30 PM ET cutoff settle the same day with no fund fees.
  • Secondary market: end users buy and sell shares onchain with near real-time settlement, 24/7, including nights, weekends, and holidays. Sells are free, and buys carry a fee.

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Issuers and availability

Expanded geographic support is coming soon.

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Chain support

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Get started

Sandbox access is available to all developers. Production access is in private preview for select developers. Contact [email protected] to request production access.
Earnings are not guaranteed, and every yield source involves risk, including loss of funds. Your app should make clear to end users that yield is generated via a stablecoin, tokenized money market fund, tokenized real-world asset, or DeFi protocol independent from the wallet provider. End users keep full control of their assets and should explicitly direct every subscribe, redeem, buy, and sell order. Privy does not provide investment, financial, legal, or tax advice.