The Global Treasurer published, "Tokenized Money Market Funds and the Future of Short-Term Investing," which states, "Tokenized money market funds (MMFs) are attracting growing interest from institutional investors. By digitizing fund ownership on blockchain networks, these assets promise faster settlements, lower costs, and broader access. Yet, regulatory uncertainty—particularly in the United States—continues to slow adoption, leaving a significant portion of the market untapped." It continues, "The appeal of money market funds has always been their combination of stability and liquidity. Traditionally, these funds hold short-term government securities, corporate debt, and other highly rated fixed-income instruments. But the existing model has its flaws: settlement times stretch across multiple days, operational costs remain high, and access is often limited to large institutions. Tokenization reworks this framework by allowing investors to trade fund shares instantly, outside of traditional market hours, and in smaller denominations. The result is a financial product that functions more efficiently, with fewer intermediaries and greater accessibility." They add, "Some of the world's largest asset managers are already moving tokenized MMFs from concept to reality. Franklin Templeton has expanded its Franklin OnChain U.S. Government Money Fund (FOBXX) to multiple blockchain networks, including Stellar, Polygon, Ethereum, and Solana, pushing its assets beyond $580 million. Meanwhile, abrdn, through a partnership with Archax, has brought a tokenized MMF to Hedera, citing the blockchain's ability to process high transaction volumes quickly. BlackRock and Fidelity International have also entered the market via XDC Network and Archax, signaling a wider institutional shift toward tokenized investment products."