Northern Trust launches tokenized money market share class, officially entering the digital asset market

ChainCatcher news: Traditional finance giant Northern Trust announced the launch of a tokenized share class (Tokenized Money Market Share Class) for its NIF Treasury Instruments Portfolio, a short-term U.S. government bond fund. This marks its official entry into the digital asset market. The tokenized share class serves as a blockchain "mirror record" of institutional shares, digitizing holdings through blockchain technology. Initially, it will be available to investment clients on LiquidityDirect, a platform under Bank of New York Mellon in New York.

A tokenized money market share class typically refers to a share class in a tokenized money market fund, designed for specific investor groups or trading methods, issued and managed as tokens on the blockchain.