First Privacy-Wrapped Tokenised Funds from Aberdeen, BlackRock and More Now Available on Silent Data via Archax

WHY THIS MATTERS:

Tokenised money market funds have rapidly become one of the most credible real-world asset (RWA) use cases on blockchain. Major asset managers such as BlackRock, Fidelity International, State Street and Aberdeen have already embraced tokenisation to improve settlement efficiency, programmability, and distribution.

Yet one major barrier has remained: privacy.

Public blockchains are transparent by design. While that transparency supports auditability and trust, it also exposes balances, transaction flows, and investor activity—data that institutional investors consider commercially sensitive. For many regulated institutions, this trade-off has slowed meaningful on-chain adoption.

Applied Blockchain, the company behind Silent Data, today announced that tokenised money market funds managed by Archax – including funds from Aberdeen, BlackRock, Fidelity International, and State Street – are now available on Silent Data. This makes them the first tokenised fund products to be offered with a privacy wrapper on public blockchain infrastructure. 

The launch marks a milestone for tokenised real-world assets. Tokenised money market funds have already been issued across multiple blockchains, but this is the first time they have been deployed with built-in, hardware-enforced privacy. As a result, sensitive balance, transaction, and investor data remains confidential and accessible only to authorised parties. 

Silent Data is a high-performance, Turing-complete programmable-privacy Ethereum layer 2 blockchain for institutional use. It processes sensitive data inside trusted execution environments (TEEs) – specialised hardware environments – so balance, transaction, and investor information is not visible to infrastructure operators or other network participants. Unlike solutions limited to confidential transfers, Silent Data supports private smart contract execution, enabling complex fund operations, compliance checks, and access controls to run privately on-chain while retaining the transparency and verifiability of public blockchain infrastructure.

For institutional investors, this addresses a persistent barrier to on-chain adoption: the inability to use public infrastructure without exposing commercially sensitive information. Silent Data removes that constraint, enabling regulated fund products to run on public blockchain infrastructure with the level of data protection expected in traditional finance. 

Archax has been a pioneer in tokenising institutional-grade fund products, having issued tokenised interests in money market funds from Aberdeen, BlackRock, Fidelity International, State Street and others across multiple blockchain networks. Bringing these funds to Silent Data adds privacy-enabled public blockchain infrastructure to Archax’s distribution footprint and responds to growing institutional demand for confidentiality. 

Adi Ben-Ari, Founder & CEO of Applied Blockchain, said: “This is a landmark moment for tokenised assets. Until now, institutions have had to choose between the benefits of public blockchains and the data confidentiality their operations require. With Silent Data, that trade-off no longer exists. Having tokenised funds from some of the world’s largest asset managers now available with a privacy wrapper demonstrates that regulated, institutional-grade products can operate on-chain with full confidentiality – and that’s a powerful signal for the future of digital finance.” 

Graham Rodford, CEO and co-founder of Archax, said: “Archax has been at the forefront of tokenising real-world assets, and privacy has consistently been one of the key requirements raised by institutional clients. Silent Data gives us the ability to offer tokenised fund products with the granular privacy controls that regulated investors demand, without sacrificing the transparency and efficiency that public blockchains provide. This is exactly the kind of infrastructure the industry needs to scale.” 

FF NEWS TAKE:

This move represents a maturation of the tokenised asset market.

The first wave of tokenisation focused on proving that traditional assets could exist on-chain. The second wave is about making that infrastructure institutional-ready. Privacy is central to that shift.

Silent Data’s privacy wrapper effectively makes public blockchain infrastructure compatible with traditional financial operating standards. For asset managers and regulated investors, that unlocks more realistic deployment scenarios—where compliance workflows, fund operations, and investor access controls can run privately without sacrificing the benefits of on-chain automation.