Archax, a company that deals with Digital Money in the UK, has some exciting news. They want to create a special place (like an online market) for digital money, such as funds and bonds. This market is expected to be ready before the end of the year.

Simon Barnby, who works at Archax, thinks that in the future, everything valuable could be turned into digital money. They’re working to create a safe and regulated space for these digital assets. Their main audience will be people who are experts in investing and big organizations.

Digital money is like a computer version of real things you own, recorded in a safe and shared system. A report says that this digital money market could become really big—maybe even $10 trillion! Archax already got permission from the people who oversee financial rules in the UK (the FCA) to do this in 2020.

They’ve also already changed a regular market fund into digital money in euros, pounds, and dollars. They have a lot more money waiting to be turned into digital money for this fund.

This idea of turning things into digital money is becoming popular around the world. For example, Euroclear, which is a big group handling money stuff, recently did something similar. They turned a World Bank deal into digital money and raised a lot of euros for good things like helping the environment.

Simon Barnby wants to make sure that when people use this new digital money market, it’s safe and follows the rules. Archax believes that using a technology called blockchain can make money matter better.

So, as Archax gets ready to show everyone this new digital money market, many people in the money world are excited to see how things will change with this mix of regular money and new digital ideas.

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