The institutional era of tokenization is here. The NY Fed reaffirmed open blockchains and Europe’s largest asset manager took a MMF onchain, alongside other notable moves this week. Here’s what you need to know 👇 1⃣ New York Fed highlights advantages of open blockchains In a new analysis on the future of payment infrastructure, the Federal Reserve Bank of New York wrote that “any monetary instrument issued on [open and permissionless] blockchains can achieve borderless, global reach.” 2⃣ Ondo invests $25M in Figure’s yield-bearing YLDS yieldcoin Ondo Finance strategically invested $25 million in YLDS, Figure Certificate Company's yield-bearing stablecoin. This investment will back Ondo's tokenized fund, the Short-Term U.S. Treasuries Fund (OUSG), broadening its yield sources. 3⃣ U.S. Bancorp tests stablecoin on Stellar The major U.S. bank with roughly $600B in deposits is testing its own stablecoin on Stellar as part of a broader push into digital assets. 4⃣ Amundi partners with CACEIS to launch tokenized money market fund Amundi, Europe’s largest asset manager with €2.2T AUM, launched its first tokenized share of the AMUNDI FUNDS CASH EUR money market fund in partnership with CACEIS, the asset servicing arm of Credit Agricole.