Schroders gets Irish approval for tokenised US dollar money market fund

Schroders announced that the Central Bank of Ireland has approved the launch of its first tokenised share class for a US‑dollar money market fund, named Schroders Onchain Active Returns (SOAR). The tokenised share class will operate on JP Morgan’s Kinexys multi‑chain asset tokenisation platform, allowing investors to use blockchain‑based smart contracts for fund transfers, redemptions and other transactions, which the firm says will improve liquidity, settlement speed and enable 24/7 treasury and collateral management.

The Ireland‑domiciled fund will be managed by Neil Sutherland, head of US fixed income at Schroders, together with the firm’s credit investment team. Chief financial officer Meagen Burnett highlighted the combination of money‑market investments with distributed‑ledger technology as a new level of access, efficiency and security. Kara Kennedy, global head of market development for Kinexys, said tokenised money‑market funds are reshaping liquidity and digital‑asset workflows. The launch follows earlier tokenisation work on Schroders Capital’s insurance‑linked securities platform and participation in the Monetary Authority of Singapore’s Project Guardian working group. Schroders manages £867.8 bn in assets.