Odaily Planet Daily reports that Northern Trust, a $1.4 trillion asset management giant in traditional finance, has announced the launch of a tokenized share class (Tokenized Money Market Share Class) for its NIF Treasury Instruments Portfolio, which invests in diversified U.S. short-term government debt instruments. This marks its official entry into the digital asset market. The tokenized shares serve as a blockchain “mirror record” for institutional-level shares, digitizing holdings through blockchain technology. Initially, they will be available to investment clients on LiquidityDirect, a platform under Bank of New York Mellon in New York. (Businesswire)
(Note: Tokenized money market share class generally refers to a share class in a tokenized money market fund designated for specific investor groups or trading methods, issued and managed as tokens on the blockchain.)
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