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BAGEY launches on Solana as UK-regulated tokenized fund built with BNY

BAGEY launches on Solana as UK-regulated tokenized fund built with BNY

Baillie Gifford and BNY launched the dollar-denominated fund on Ethereum and Solana under a UK OEIC structure, targeting qualified investors in the UK, Switzerland and the Cayman Islands.

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Fact Check
The official @solana account and CoinDesk both confirm that Baillie Gifford and BNY launched the dollar-denominated Baillie Gifford Enhanced Yield Fund (BAGEY) on Solana and Ethereum as a UK-regulated tokenized fund under an OEIC structure. The Solana post emphasizes it is the first publicly available, fully native UK-regulated tokenised fund, settled in USDC. The only unverified detail is the specific list of target jurisdictions (UK, Switzerland, Cayman Islands), which does not undermine the central, well-corroborated claims.
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Summary

Baillie Gifford and BNY said Monday they launched the dollar-denominated Baillie Gifford Enhanced Yield Fund, or BAGEY, as a tokenized fixed-income fund on Ethereum and Solana under a UK OEIC structure. The actively managed short-duration corporate bond fund is aimed at qualified investors in the UK, Switzerland and the Cayman Islands and has a current yield of about 7%. The launch expands on earlier details that the product uses onchain settlement in USDC and records ownership on blockchain as the official register of record, underscoring how tokenization is being applied not just to fund distribution but also to settlement and ownership tracking.

Terms & Concepts
  • tokenized fixed-income fund: A bond-focused investment fund issued or administered using blockchain-based infrastructure.
  • onchain settlement: Transaction completion recorded directly on a blockchain.
  • register of record: The official ownership ledger for an asset.