Aug. 3 at 12:10 PM
$BLK BlackRock launches two tokenized money market products
BlackRock expanded its cash management strategy with the launch of two tokenized money market products: OnChain Shares of the BlackRock Select Treasury Based Liquidity Fund and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. The new products combine BlackRock's money market capabilities with blockchain-based infrastructure while maintaining the liquidity and stability, investors expect from regulated money market funds. BSTBL introduces a tokenized share class on the Ethereum blockchain of an existing money market fund.
The OnChain Shares extend a scaled cash management strategy into a digital format and can be transferred between approved investor wallets, subject to applicable law. BNY serves as a transfer agent and tokenization provider for the BSTBL OnChain Shares. BRSRV is a newly launched tokenized money market fund designed for digitally native institutional investors. The fund includes features such as daily dividend reinvestment and multi-blockchain accessibility and can be used for a range of digital asset use cases, including stablecoin reserve management. Securitize serves as BRSRV's transfer agent and tokenization provider.
