BlackRock Enters Stablecoin Reserve Market with Two New Tokenised Funds
Financial giant BlackRock has launched two new tokenised money market products aimed at serving as reserve assets for regulated US stablecoin issuers.
The products, which operate on Ethereum and support multiple blockchain networks, are designed to qualify as stablecoin reserve assets under the GENIUS Act.
The first product adds on-chain shares of BlackRock's Select Treasury Based Liquidity Fund to its existing BUIDL tokenised Treasury fund, which holds over $2.6 billion in assets.
The second fund allows for automatic reinvestment of daily dividends and is geared towards institutional investors.