Schroders receives Irish approval for tokenised money market fund

Schroders, one of the UK’s largest asset managers, has secured regulatory approval from the Central Bank of Ireland for a tokenised share class of a US dollar money market fund. The approval, granted on August 6, 2026, makes Schroders one of the most prominent traditional finance firms to receive a green light from an EU regulator for a blockchain-based fund product. The fund is called SOAR, short for Schroders Onchain Active Returns, and it will run on J.P. Morgan’s Kinexys multi-chain asset tokenisation platform. Smart contracts will handle functions like redemptions and transfers, replacing manual processes that have defined fund administration for decades. What SOAR actually is, and what it isn’t Schroders is describing the SOAR share class as a “digital twin.” The fund isn’t a fully native on-chain product where every unit of value lives exclusively on a blockchain. Instead, it layers distributed ledger technology on top of an existing money market fund structure to streamline operations. J.P. Morgan plays a dual role in the arrangement. Beyond providing the Kinexys tokenisation infrastructure, the bank also serves as the fund’s existing transfer agent. Neil Sutherland, Head o...