BlackRock Expands Tokenized Cash Platform with New Blockchain-Based Money Market Offerings

BlackRock, the world's largest asset manager, has expanded its tokenized cash platform by introducing two new blockchain-based money market offerings. The firm announced that it will offer onchain shares of the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a tokenized share class on Ethereum for an existing BlackRock money market fund.

The company also unveiled a new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) with daily dividend reinvestment and access across multiple blockchains. Both funds aim to qualify as eligible reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act, according to BlackRock.

The move marks a significant step in BlackRock's push into tokenized finance, which can speed up settlement, enable round-the-clock trading, and improve transparency. As of May this year, BlackRock had filed for the new products with the U.S. Securities and Exchange Commission (SEC).