Northern Trust has launched a tokenized money market share class for its NIF Treasury Instruments Portfolio, marking its entry into the digital asset market. This initiative digitizes ownership registration using blockchain technology, creating a blockchain-based "mirror record" of institutional shares. Initially, these tokenized shares will be available to investment clients on LiquidityDirect, a platform operated by Bank of New York Mellon. The move represents a significant step for Northern Trust as it embraces blockchain to enhance transparency and efficiency in asset management.