U.​K.-​based publication Treasury Today published a piece that interviews BlackRock'​s Head of Digital Cash Hannah Winter titled, "Tokenised money market funds: what are the use cases?" It states, "Corporate treasurers have long used money market funds (​MMFs) to manage their cash. MMFs offer liquidity and security as well as a competitive yield, making them an attractive alternative to bank deposits. But in today'​s digital world, there'​s a new kid on the block. Tokenised money market funds (​tMMFs) offer the benefits of traditional MMFs, while fund shares are represented as digital tokens on a blockchain. As a result, they offer additional functionality, such as the ability to transfer shares easily between investors." The piece asks, "So how do tMMFs work, which use cases do they support for corporate treasurers and which benefits do they offer compared to traditional MMFs?" Winter explains, "[​I]​n terms of shape and form, a tMMF is largely the same as a traditional MMF, with a similar underlying operating structure. However, the shares of the MMF have been wrapped into a token and are displayed on a blockchain. In the current market ... the underlying portfolio of securities is not tokenised." She says, "`​tMMF shares are issued by the transfer agency in token form and can be held on either a private or a public blockchain. As a result, a tMMF share has features that differ from an analogue share. '​The benefit to corporate treasurers is that having the share held in token format introduces new features and new utility.'" Treasury Today tells us, "According to Winter, the market for tMMFs is '​really starting to …