BlackRock Brings Blockchain to Billions

BlackRock has launched tokenized versions of its money market funds in Europe, marking a significant step towards the mainstream adoption of blockchain technology in finance. The move follows Wall Street's growing ambition to expand use of digital-asset tech. The tokenized offerings will include sterling, euro and US-dollar-denominated share classes.

The new tokenized versions are based on BlackRock Institutional Cash Series money market funds, which manage a combined $311 billion in assets. This marks a significant expansion of the company's use of blockchain technology, following its initial foray into the space last year.