London-based pension and investment management firm Legal & General (L & G), which manages $1.50 trillion in assets, is planning a foray into blockchain-based tokenization that is increasingly popular with financial giants. Tokenization - the use of tokens on the blockchain to represent traditional assets such as Treasury-backed money market funds - is becoming increasingly popular among traditional financial firms, a trend that has accelerated with BlackRock, the world's largest asset manager, launching its BUIDL fund on the Ethereum blockchain. Others include Franklin Templeton, State Street and Abrdn. "We are evaluating ways to offer the Legal & General Investment Management liquidity fund in a tokenised form," the L & G executive said.