On-chain cash, built for 24/7 markets

Fidelity USD Digital Liquidity Fund (FILQ)

Access FILQ, assessed Aaa-mf by Moody’s, the first digitally native liquidity fund that provides exposure to yield from regulated, highly rated government securities while keeping capital productive across on-chain workflows.

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Always-on liquidity, now yield-generating

Sygnum enables access to FILQ – the cash layer of on-chain capital markets. Where traditional cash management forces a choice between yield and availability, FILQ addresses that constraint – investing in regulated government securities while remaining accessible around the clock with near-instant on-chain settlement.

Institutional quality delivered on-chain

Built on institutional money market principles and delivered through digital asset infrastructure, FILQ combines the governance standards and credit quality of a regulated fund with the advantages of on-chain settlement: daily NAV transparency, Aaa-mf assessed underlying exposure and integration with digital asset ecosystem.

How FILQ supports your capital

The following features are designed to ensure your capital remains liquid, productive and aligned with institutional requirements across on-chain and traditional workflows:

 

 

24/7 Subscription and Redemption

Access and manage liquidity anytime, unconstrained by market hours.

Near-instant settlement on-chain

Reduce friction across cash deployment and redemption cycles.

High-quality money market exposure

Diversified allocation across short-term instruments and asset-backed commercial paper.

Accumulating & Distributing tokens

Select the share class that fits your strategy: accumulating tokens for compounding growth or distributing tokens for regular income flows.

Daily NAV calculation and transparent pricing

Clear, daily visibility into fund valuation and performance. The NAV and key distribution metrics are powered by Chainlink.

Composable by design

Maintain a yield-generating position within digital asset infrastructure, designed to support collateral and treasury reserve use.

FILQ for 24/7 liquidity

Eliminate idle cash drag

Keep on-chain cash productive at all times. FILQ enables you to earn yield on balances that would otherwise sit idle, improving capital efficiency without changing how you operate. 

Access liquidity on demand

Move capital when needed with 24/7 access and near-instant settlement. Dynamically allocate during periods of market volatility without being constrained by traditional market hours.

Improve capital efficiency

FILQ remains productive beyond the fund. Capital held in FILQ can serve as a building block, supporting financing, lending, and trading strategies while continuing to provide exposure to yield.

Reduce operational complexity

Deploy capital through a single, integrated setup. FILQ simplifies on-chain cash management with transparent pricing and composability with existing digital asset workflows. 

Partner perspectives

Emma Pecenicic, Head of Digital Assets Distribution at Fidelity International

“There is no tokenised finance without tokenised liquidity. As markets move towards real time, always on settlement, financial infrastructure has to move with the same immediacy. We believe tokenisation is a foundational shift in how global financial markets will function, not a niche innovation. By combining long standing investment expertise with digital native infrastructure, and in collaboration with digital native specialists such as Sygnum, we are helping to enable regulated, institutional grade liquidity on chain for markets that operate around the clock.”

Fernando Vazquez, President of Capital Markets, Chainlink Labs

“Fidelity International’s launch of FILQ, together with Sygnum, marks a pivotal moment for tokenized assets. By adopting Chainlink’s industry-standard platform to deliver verifiable, real-time NAV and distribution metrics, FILQ utilizes the tamper-proof transparency required to securely bridge traditional finance with the onchain economy, signaling the next phase of institutional adoption.”  

How to get started

Sygnum clients can access FILQ directly via their Sygnum eBanking or by contacting their relationship manager. Other eligible investors can register their interest via the contact form.  

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FAQ

Who can access FILQ and what is required to onboard?

Potential investors need to successfully complete onboarding with Sygnum, including standard Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. The minimum initial investment is USD 100,000.

In Switzerland, FILQ is available exclusively to qualified investors, as defined in art. 10 para. 3 and art. 10 para. 3ter CISA, at the exclusion of qualified investors with an opting-out pursuant to art. 5 para. 1 FinSA and without any portfolio management or advisory relationship with a financial intermediary pursuant to art. 10 para. 3ter CISA. Accordingly, the fund has not been and will not be registered with FINMA and no representative or paying agent have been or will be appointed in Switzerland.

How is FILQ different from a stablecoin?

Stablecoins are designed for price stability and settlement but typically do not generate yield. FILQ is a digitally native liquidity fund that provides exposure to yield from regulated, highly rated government securities while remaining usable across on-chain workflows. It combines the usability of tokenized cash with the return profile of a money market fund, helping institutions improve cash efficiency without giving up liquidity.

How do subscriptions and redemptions work in practice?

You can subscribe and redeem FILQ tokens 24/7 in the Sygnum eBanking once onboarding is complete. During market hours (02:00 to 22:00 CET time, Monday to Friday), settlement is typically near-instant. Outside market hours, redemptions are supported via liquidity facilities, and transactions may be queued or subject to fees depending on conditions.

How is yield generated and reflected in the token?

Yield is generated from investments in regulated, highly rated government securities, subject to market conditions. The fund calculates net asset value (NAV) daily at 22:00 CET time and publishes it shortly after. For accumulating token classes, yield accrues daily and compounds into the NAV. For distributing token classes, yield accrues daily and is paid out as dividends on a monthly basis, with a constant NAV structure of one token to one USD.

What infrastructure and controls support FILQ?

FILQ tokens are issued using the ERC-20 standard on Ethereum blockchain. The fund operates a permissioned model, where only approved wallets can transact. Access and ownership records are maintained by a transfer agent, and transactions are supported by smart contract-based controls. The structure combines blockchain-based settlement with established fund governance and operational oversight. 

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Investor qualification

The following content is available to qualified investors. Please confirm your details below to visit this page, or please see our other digital asset updates here.

Qualified investor - As defined in Art. 10 (3) ff. of the Swiss Collective Investment Schemes Act. In particular, natural persons who have the knowledge required to comprehend the risks of the investments based on their individual education and professional experience or based on comparable experience in the financial sector and hold liquid assets of at least CHF 500,000.

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