BlackRock brings $311B money market funds onchain with Europe launch

BlackRock has expanded tokenized money market funds to Europe with Ethereum share classes covering $311 billion in institutional liquidity assets. Summary BlackRock has launched tokenized share classes for European institutional money market funds managing $311 billion in assets. The Ethereum based rollout lets approved investors transfer fund shares between eligible wallets while keeping traditional fund records in place. The launch follows BlackRock’s introduction of two tokenized money market products for institutional investors in the United States. The tokenized share classes will be available across 15 markets and are intended for treasury management, digital collateral and other institutional use cases. According to a recent announcement, BlackRock has introduced its first tokenized access to institutional money market funds in Europe by launching blockchain-based share classes on Ethereum in partnership with Kinexys by JPMorgan. The rollout covers selected BlackRock Institutional Cash Series (ICS) money market funds that managed a combined $311 billion in assets as of June 30, according to the asset manager. The launch extends BlackRock’s tokenization efforts beyond the U.S...