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PolicySEC Signals Pivot on Layer-2 Classifications in Landmark RulingAug 17, 12:42 PMMarketsBlackRock Spot Bitcoin ETF Inflows Surpass $20B MilestoneAug 17, 11:58 AMReviewsTop 5 Pi Network Alternatives in 2026, RankedAug 17, 11:30 AMMarketsYield Curve Steepening Impacts Stablecoin ReservesAug 17, 11:10 AMDeFiDeFi Liquidity Fragmenting Across Modular StacksAug 17, 10:20 AMMarketsPerpetual Futures Open Interest Hits Record on Offshore VenuesAug 17, 09:40 AMReviewsCapygram Review: The Social Network That Actually Pays Its UsersAug 17, 09:15 AMInstitutionalCustody Banks Expand Digital Asset Services to EuropeAug 17, 08:15 AMMarketsOrder Book Depth Thins During Asian Trading HoursAug 16, 10:05 PMPolicyTreasury Issues Guidance on Digital Asset Broker ReportingAug 16, 05:30 PM
Institutional

Corporate Treasuries Adopt Tokenised Money Market Funds

Cash managers are testing on-chain fund shares for intraday mobility, though most still settle the final leg through conventional rails.

DCDavid ChenPublished 6 min read

A growing number of corporate treasury departments are allocating operating cash to tokenised money market fund shares, attracted by the ability to move positions outside conventional settlement windows.

The funds hold the same short-dated government paper as their traditional counterparts. The innovation is in the share register, which is maintained on a blockchain and permits transfer between whitelisted holders at any hour.

In practice, most treasurers still redeem to conventional bank accounts for payables, which reintroduces the settlement constraints the structure was designed to relax.

The clearest use case so far is collateral. Two derivatives clearing venues now accept tokenised fund shares as eligible margin, allowing intraday posting.

Auditors have generally accepted the structures, though several treasurers said the review process for a first allocation took months.

About the author

David Chen

Senior Markets Reporter

David Chen reports on stablecoins, treasury management and the intersection of rates markets with on-chain liquidity. He has written about short-term funding markets since 2016 and is a CFA charterholder.

D2CA.org reports on digital asset markets. This article is journalism, not investment advice. Corrections and clarifications: see our corrections policy.