Schroders Launches Tokenized MMF Share Class with JP Morgan Partnership

Schroders has received approval from the Central Bank of Ireland to issue a tokenized share class for its US dollar money market fund (MMF), called Schroders Onchain Active Returns (SOAR).

The asset manager is partnering with JP Morgan's Kinexys for the tokenization, and JP Morgan serves as both transfer agent and tokenization partner.

Schroders aims to support the transfer of MMF units between clients and explore future use cases including collateralization and 24/7 treasury and liquidity management.