BlackRock Brings Tokenized Money Market Funds to Europe

BlackRock has launched tokenized share classes for European institutional money market funds in partnership with Kinexys by JPMorgan. The rollout covers selected BlackRock Institutional Cash Series (ICS) money market funds, managing a combined $311 billion in assets as of June 30.

The Ethereum-based share classes will be available across 15 markets and are intended for treasury management, digital collateral, and other institutional use cases. Approved investors can transfer tokenized shares between eligible wallets at any time through smart contracts.

BlackRock's Head of Digital Cash, Hannah Winter, said that tokenized money market funds allow the firm to deliver high-quality short-duration investment exposure in digital form without changing its standards for capital preservation, liquidity, and risk management.