BlackRock Brings On-Chain Money Market Funds to Solana and Tempo

BlackRock, the world's largest asset manager, has expanded its tokenization strategy by launching BRSRV, a tokenized money market fund designed specifically for stablecoin reserves. The fund is now available on Solana, Ethereum, and Tempo.

The new fund, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), issues on-chain shares through a permissioned system that operates in conjunction with public blockchains like Ethereum and Solana.

BlackRock emphasized that the fund invests exclusively in cash, short-term U.S. Treasury securities, and overnight repurchase agreements collateralized by U.S. Treasuries, explicitly avoiding any crypto assets.

The minimum initial investment for BRSRV is $3 million, with ownership records maintained on Solana, Ethereum, and Tempo through approved wallets managed by transfer agent Securitize.