Tokenized money market and Treasury funds are blurring the line between an investment and cash. They earn yield, move around the clock, and are increasingly accepted as collateral on exchanges, in derivatives margining and in on-chain lending. In on-chain finance, this is where asset management and the money layer are converging fastest, and it puts asset managers in direct competition with banks for corporate and institutional cash.

This panel of asset managers, banks, exchanges and custodians scaling tokenized funds in production will discuss how these funds are used as on-chain cash equivalents and as collateral, distribution through exchanges, platforms and bank channels, and the mechanics of 24/7 subscriptions and redemptions when underlying markets keep traditional hours. 

The panel will also examine how yield-bearing tokenized funds will compete with deposits and stablecoins for treasury balances, what regulatory and operational hurdles remain to broader collateral acceptance, and how banks can partner, distribute or compete as these products scale. Other discussion points will include:

• Where are tokenized funds being accepted as collateral today, and what’s blocking wider use?
• How do you deliver 24/7 liquidity when the underlying assets don’t trade around the clock?
• Will tokenized funds pull corporate cash away from bank deposits, and how should banks respond?