Baillie Gifford and BNY launch tokenized bond fund on Ethereum and Solana

118-year-old investment firm Baillie Gifford launched a tokenized fixed-income fund on Ethereum and Solana with BNY. The fund is a U.K.-regulated OEIC offering eligible investors access to a short-duration corporate bond portfolio yielding around 7%.

• The Baillie Gifford Enhanced Yield Fund (BAGEY) is issued onchain with blockchain as the register of record.
• Investors hold the fund directly with direct ownership and recourse, not a token on top of a fund.
• BNY provides tokenization and wallet infrastructure; NatWest acts as depositary.
• The fund is available to eligible investors in the U.K., Switzerland and Cayman Islands.
• Both Baillie Gifford and BNY were added to the FCA's list of registered crypto companies.

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