Pensions & Investments posted a "Commentary" on "The Liquidity Leapfrog -- the U.K.'s Late Entry Advantage in Money Markets." It says, "In technology, it is often not the first movers who succeed, but the fast followers who build upon their predecessors' experiences. Countries that arrived late to the mobile revolution -- lacking legacy infrastructure -- were able to leapfrog straight to digital banking, skipping over copper lines and checkbooks. A similar opportunity is now emerging in U.K. money markets. While the U.S. has built a vast and mature $7 trillion money market fund ecosystem, the U.K. has so far been a bystander. Retail and even many institutional investors remain wedded to traditional deposit models, unaware that inflation has quietly eaten into real returns for years. Yet, this late start presents a unique opportunity. With better digital infrastructure, clearer regulatory direction, and increasing investor awareness, the U.K. could now build a cleaner, more efficient money market model -- avoiding some of the structural inefficiencies the U.S. developed along the way."