BlackRock has launched tokenized share classes for European money market funds representing a combined total of 311 billion dollars. The 12 new share classes cover six funds in the BlackRock Institutional Cash Series in euro, sterling and US dollar strategies. Tokens are minted on Ethereum via Kinexys, J.P. Morgan’s blockchain unit, and each token represents a share in the underlying fund with the register maintained by the transfer agent. These products are marketed to professional and qualified clients across multiple jurisdictions including Europe and Singapore. This initiative is part of BlackRock’s broader tokenization strategy following its launch of tokenized funds on Solana, Ethereum and Tempo.
Source: Read the original article
