Schroders has received regulatory approval to launch its first tokenised share class for a US dollar money market fund, marking a significant step in its digital asset strategy. The asset manager said the Central Bank of Ireland had approved the tokenised share class, known as Schroders Onchain Active Returns (SOAR), in response to growing demand from clients for digital investment solutions and greater operational efficiency. Schroders said the technology would enhance the mobility of the money market fund beyond traditional systems and could support future use cases, including collateral management and 24/7 treasury and liquidity management. Kinexys by J.P. Morgan global head of market development Kara Kennedy said tokenised money market funds could improve liquidity, settlement and digital asset workflows while introducing new functionality enabled by blockchain technology. The Ireland-domiciled fund will be managed by Neil Sutherland, Schroders’ head of US fixed income, alongside the firm’s credit investment team.