For all the sci-fi promises about blockchain transforming finance, the reality will be more mundane as thousands of ordinary instruments quietly move to digital ledgers. On Wednesday, it was money market funds.

The nation's oldest bank and a big Wall Street firm are wading into tokenization, joining a growing number of money managers experimenting with blockchain technology. The effort stops short of the expected eventual benefits of what's known as decentralized finance—allowing,

Clients of BNY will be able to invest in money market funds whose ownership will be recorded on Goldman’s blockchain platform.