BlackRock Launches Tokenized Money Market Fund for Stablecoin Reserves

BlackRock has launched a tokenized money market fund on Solana and Ethereum to support stablecoin reserves with cash and U.S. Treasury assets.

The new fund is designed for stablecoin reserves, giving investors access to tokenized shares backed by low-risk assets such as cash and short-term U.S. Treasury securities.

The launch marks another step in BlackRock's push to bring traditional financial products onto blockchain networks, following its earlier introduction of the BUIDL tokenized money market fund in 2024, which now manages over $2.6 billion in assets.