Maximize your cash
Frictionless Institutional Cash Funds are daily distributing tokenized fund units, these liquid tokens eliminate friction and cash drag. With minimums from one thousand dollars, instant settlement, complete transparency and legal protection of the Luxembourg securitization laws, Frictionless Institutional Cash Funds are the perfect cash management solution for CFOs, Corporate Treasurers, Family Offices, HNWIs, Limited & General Partners & Institutions.
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Broadest range of money market instruments
Earn daily yield with daily redemptions in the broadest range of highly liquid money market funds by the world's best asset managers. Choose from our US Treasury, Sterling Government Liquidity or Euro Government Liquidity Funds. Invest or Settle in any support currency to maximize your cash no matter which market you operate in.
As of 20-Dec-2024
*All returns are 1-Day Yield (Gross) and are subject to fees, see product & fact sheet for the latest fees
Past performance is not a guide to current or future performance and should not be the sole factor of consideration when selecting a product. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
How do I invest?
Frictionless onboarding, investment, redemption and reporting via our tokenized infrastructure and cash management portal. Safely step into the world of tokenization, with exposure to a tokenized fund with the lowest possible risk, non-invasive and privacy-protected.
Why invest in Institutional Cash Funds?
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Lowest Risk
Exclusively invested in Underlying BlackRock Institutional Cash Series, US Treasury, Sterling & Euro Government Funds, Frictionless Institutional Cash Funds return daily yield with the lowest fees in the market. Issued in bankruptcy-remote investment vehicle with cash custody at Citi.
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Market-Beating Returns
Using aggregation & tokenization, Frictionless Institutional Cash Funds have lower access fees and ultra-low minimums. As the AuM grows, Frictionless passes the reduction in share class fees to the Investor. Fees are only paid at redemption on yield.
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Frictionless & Faster
Faster onboarding, faster investment, faster redemptions, Online via our cash portal, our OTC desk is open 365/24/7, or orders can be placed directly with our smart contracts. Onboard once & all funds are available.
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Multi-Currency
Access US Treasury, Sterling Gov, or Euro Gov funds in any supported currency with lower FX fees. Settle in any currency or with USDC.
Attested, Tax Transparent, Bankruptcy Remote
At Frictionless, we are unwavering in our commitment to upholding the highest standards of transparency. Our approach ensures that our clients can trust us to safeguard their interests while navigating the complexities of the digital landscape. All investments, trades, yields and holdings in Frictionless Institutional Cash Funds are published daily, directly from the underlying fund order book, so you can have full confidence in our investment operations.
Frictionless Markets Securities operates within a Luxembourg-based, bankruptcy-remote structure with orphan entity protection, ensuring client assets are segregated and secure.
Our EU-based, tax-transparent vehicle provides clients with confidence and compliance under FATCA and CRS regulatory standards.
Frequently Ask Questions
For more information see the product-specific DDQs and full FAQ
How does Frictionless guarantee my funds are invested in the underlying Money Market Funds?
Our commitment to transparency includes a daily attestation direct from the underlying fund's order book and transfer agent, attesting to the transactions, holdings and exposures of the funds. We publish this information to ensure clients have confidence in our operations and to demonstrate our commitment to the highest regulatory processes and procedures.
How do I redeem my investment?
Redemption requests are processed daily, on Luxembourg business days. Redemption requests are entered into the BlackRock CacheMatrix order book before the trading cut-off time will be processed that day, redemptions entered after the trading cut-off time will be processed on the next business day.
Settlement is in Frictionless Institutional Deposit Tokens of the same base currency.
Redemption of Frictionless Institutional Deposit Tokens are subject to their specific terms and conditions.
How are fees collected?
As per our regulatory requirements and best fiduciary practices, we are obliged to publish our fee structures on all Frictionless products, this includes Institutional Cash Funds.
Fees are deducted from daily yield tokens, principal investment tokens are not subject to fee deductions.
Daily yield tokens are issued each day in batch mint at 12:00 CET (Luxembourg). The Daily yield tokens are calculated on the distribution from the Underlying Fund less the Underlying Fund Management Fee per Investor principal invested. Daily yield tokens mature on the 1st business day of the following month, at redemption daily yield tokens are charged the redemption fee.
Why are principal tokens and daily yield tokens issued separately?
Principal tokens can be redeemed daily. Fees are not deducted from principal tokens, ensuring you can always redeem your principal at par or leverage your principal token as stable financial collateral that is instantly redeemable.
Daily yield tokens are issued each day in batch mint at 12:00 CET (Luxembourg). The Daily yield tokens are calculated on the distribution from the Underlying Fund less the Underlying Fund Management Fee per Investor principal invested.
As per the underlying fund manager distribution policy, daily yield tokens have a future maturity date, as they mature on the 1st business day of the following month.
At redemption daily yield tokens are charged the redemption fee.
Frictionless Markets publishes the daily yield token, it's fees and distributions as part of our attestations and commitment to transparency.