UK Treasury’s Technical Working Group, the government’s economic and financial department, has released a new report on potential use cases for fund tokenization. The report explores the use of tokens as collateral for money market funds and the role tokenized funds may play in the on-chain investment market. The report outlines how the UK funds industry can effectively leverage the potential of tokenization for the asset management industry, and details how companies operating in the UK can adopt an underlying tokenization model. Furthermore, it explains various use cases showing how this model can enhance a company's business operations, such as optimizing money market fund collateral management.