BlackRock Taps JPMorgan for Tokenized European Money Market Funds

BlackRock is expanding its tokenized cash-management offerings to Europe through a partnership with JPMorgan.

The asset manager will offer tokenized versions of select European money market funds, including pound sterling, euro, and US dollar share classes from its Institutional Cash Series.

The series collectively manages around $311 billion in assets. Each token represents a share in an underlying money market fund and can be transferred between approved digital wallets 24/7.

JPMorgan's Kinexys will provide the tokenization infrastructure, while JPMorgan will continue to serve as the transfer agent for the funds.