BlackRock Expands Tokenized Treasury Offerings
The funds are designed to qualify as reserve assets for U.S. payment stablecoin issuers, as BlackRock seeks to manage the cash behind the market.
- On Monday, BlackRock expanded its tokenized cash platform, introducing the BlackRock Select Treasury Based Liquidity Fund on Ethereum and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle across multiple blockchains.
- BlackRock Chief Financial Officer Martin Small said the firm aims to be the "reserve manager of choice" in a $300 billion stablecoin market where it already manages $60 billion in reserves for Circle.
- Both funds intend to qualify as eligible reserve assets under the GENIUS Act, providing stablecoin issuers with safe, yield-bearing assets. The BRSRV offers daily dividend reinvestment while BSTBL operates on Ethereum.
- Rivals including JPMorgan, Morgan Stanley, State Street, and Fidelity have rolled out similar products as the broader tokenized-asset market has swelled to $37bn.
- Jon Steel, Global Head of Product and Platform for BlackRock's Cash Management business, said these funds provide clients with "additional choice in how they access and use" investment solutions across traditional and digital markets.
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BlackRock launches tokenised money market funds to back stablecoins
BlackRock wants to run the money behind stablecoins. The world’s largest asset manager has launched two tokenised money market funds built to serve as reserves for stablecoin issuers, deepening its push into blockchain-based finance. The funds are its latest step in tokenisation, the business of putting traditional assets such as Treasury bills onto a blockchain. […] This story continues at The Next Web
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BlackRock has launched two tokenized money market products as the world’s largest asset manager expands its blockchain-based cash management and real-world asset strategy. BlackRock launches BSTBL shares on Ethereum The BlackRock Select Treasury Based Liquidity Fund, or BSTBL, will introduce…
What to remember: BlackRock launches 12 new classes of tokenized shares backed by six European money funds. These funds total $311 billion in outstanding stocks spread over fifteen markets. Tokenization is based on Kinexys, JPMorgan's blockchain platform. BlackRock unveiled on Tuesday 12 new classes of tokenized shares backed by six European money funds, representing a cumulative stock of $311 billion. The world's leading asset manager thus exte…
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