BlackRock Goes Live with Tokenized Euro Cash on Ethereum

BlackRock has expanded its tokenization efforts to Europe, launching tokenized share classes for select European money market funds within its $311 billion Institutional Cash Series (ICS) platform.

The new tokenized share classes are built on Ethereum and powered by JPMorgan's Kinexys, giving institutional investors 24/7 access to regulated cash products in euros, sterling, and U.S. dollars.

Each token issued is backed 1:1 by a corresponding traditional share, and the shareholder register remains the definitive legal record of ownership.

The move follows BlackRock's August 3 launch of two tokenized money market funds in the U.S., and signals that the company is converting its entire cash franchise to blockchain-native form.

BlackRock's Jon Steel stated that demand is growing for high-quality reserve assets that work across both traditional and digital markets, and that the ICS European tokenization fits this thesis precisely.