BlackRock debuts tokenized access to $311 billion of money market funds in Europe
BlackRock has introduced 12 tokenized share classes for its money market funds across 15 European markets. This initiative, developed in collaboration with JPMorgan, aims to modernize cash management by providing digital holding and transfer capabilities for institutional investors.
Why it matters
The expansion of tokenized real-world assets by major financial institutions signals a significant shift toward blockchain-based infrastructure in traditional finance.
BlockRock unveiled 12 new tokenized share classes based on six funds across 15 European markets. The funds, which comply with the European Union's UCITS regulations, include sterling, euro and dollar share classes, the asset manager said Tuesday. The move comes one day after the firm added two tokenized cash offerings in the U.S.
CEO Larry Fink has repeatedly championed tokenization technology as a way to modernize financial markets. The tokenized real-world asset market has grown more than 200% over the past year to over $30 billion, according to rwa.xyz, while Citi projects tokenized securities could reach $5.5 trillion by 2030.
The tokenized funds are designed for corporate treasurers who already use money market funds to manage operating and reserve cash, as well as at asset managers and investment consultants across traditional and digital markets, BlackRock said.
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