BlackRock Brings Traditional Finance to Blockchain Networks
BlackRock has expanded its tokenized money market products by launching two new funds on three public blockchains. The move is significant as it brings traditional finance further onto blockchain networks, allowing clients to access money market fund solutions across both traditional and digital markets.
The two funds serve different purposes: the BlackRock Select Treasury Based Liquidity Fund (BSTBL) is a tokenized share class of an existing money market fund issued on Ethereum, while the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) is a newly created fund designed for institutions managing capital through crypto wallets and stablecoins.
The inclusion of Tempo, Stripe's blockchain, alongside Solana, signals a broader assessment by BlackRock of which networks can serve as institutional settlement infrastructure. Tokenized money operates on permissioned rails, not open DeFi protocols, with whitelisted wallets tied to verified identities and the transfer agent retaining control over transfers.
The launch arrives amid a wider institutional push, with Securitize expanding its Tokenized AAA CLO Fund (STAC) to Solana roughly a month earlier. BlackRock's approach involves putting established financial instruments on-chain to test what blockchain-based settlement adds: faster transactions, round-the-clock availability, and the ability to integrate holdings into digital financial systems.