BlackRock Brings Tokenized Money Market Funds to Europe Through JPMorgan
BlackRock is bringing tokenized versions of its European money market funds to investors through JPMorgan’s blockchain platform, expanding the asset manager’s push into tokenized finance.
The offering will include pound sterling, euro and US dollar share classes from BlackRock’s Institutional Cash Series, which together manage about $311 billion. That figure covers the wider fund range, not the amount being tokenized.
Each digital token will represent a share in an underlying money market fund and can be transferred 24/7 between approved digital wallets.
JPMorgan’s Kinexys platform will provide the blockchain infrastructure, while the bank will continue to act as transfer agent for the funds.
BlackRock said the new structure could appeal to digital wallet providers, corporate treasurers and financial institutions looking for faster and more flexible ways to manage cash and collateral.
The tokenized shares could also support peer-to-peer transfers, including payments between companies within the same corporate group.
BlackRock has already entered the tokenized fund market with BUIDL, its US dollar-denominated institutional liquidity fund launched in 2024. The fund has since grown to about $2.67 billion in assets, according to RWA.xyz.
The move highlights the growing use of blockchain technology to bring traditional financial assets such as money market funds onto digital platforms.
Featured image from: cointelegraph.com