Maples Group said it advised Fidelity International on the launch of the Fidelity USD Digital Liquidity Fund, a tokenised investment fund registered with the Cayman Islands Monetary Authority.
The fund, known as FILQ, is Fidelity International’s first tokenised fund and is designed to provide round-the-clock liquidity through blockchain-based issuance and redemption of tokens. The fund is rated AAA-mf by Moody’s and is managed by Fidelity International’s European alternative investment fund manager.
The project highlights continued activity in the Cayman Islands’ digital assets and tokenised finance sector, where investment funds and related structures are increasingly established under local regulation.
Aaron Mulcahy, a partner with the Maples Group in Dublin, said the transaction involved legal and regulatory work across multiple jurisdictions, including the Cayman Islands and Europe.
“It was a pleasure to lead our cross-jurisdictional team on this landmark project,” Mulcahy said in a statement, adding that the launch demonstrated demand for legal and regulatory support in the growing tokenised liquidity fund market.
The Maples Group said lawyers from its Dublin, Hong Kong, London and Cayman Islands offices advised on the transaction. This team was led by Partners Aaron Mulcahy (Dublin), Patrick Head (Cayman Islands), Harjit Kaur (London) and Robert Hughes (London) and assisted by Of Counsel Adam Sinclair (Dublin) and Daniel Moore (Hong Kong) and Associates David Walters (London) and Hilary Heelan (Dublin).
