BlackRock will offer tokenized versions of select European money market funds using JPMorgan’s blockchain infrastructure via its Kinexys platform. These funds, denominated in pounds sterling, euros and US dollars, come from the Institutional Cash Series range that collectively manages approximately $311 billion. Each token will represent a share in the underlying fund and can be transferred 24/7 between approved digital wallets. The solution aims to meet demand from corporate treasurers and capital markets participants seeking more efficient collateral and peer-to-peer intracompany payments. BlackRock previously launched BUIDL, a tokenized US dollar-denominated institutional liquidity fund, in 2024; the fund has since grown to $2.67 billion in assets according to RWA.xyz.
Source: Read the original article
