Solana said the Baillie Gifford Enhanced Income Fund token, BAGEY, is now live on the Solana blockchain, describing it as the first publicly available, fully native, U.K.-regulated on-chain tokenized fund.

According to Foresight News, the fund settles in USDC and is supported by BNY, which provides infrastructure.

Solana said the product is not a traditional wrapped instrument and that the blockchain itself serves as the official register.