X @Token Terminal ๐
Token Terminal ๐ยท2026-04-03 11:41
๐ฐ๐ Should all money be yield-bearing?Tokenized money market funds and leading stablecoins tend to have the same backing: short-term government securities.Yet, they operate under different regulatory regimes.TMMFs are classified as securities, which subjects them to transfer restrictions and redemption controls, but permits them to distribute yield to holders.Stablecoins are classified as payment instruments, which enables free transferability, but prohibits yield distribution in practice.However, both produ ...