BlackRock Tokenizes €311B European Money Market Funds

BlackRock has launched tokenized access to its European money market funds, offering $311 billion in assets under management. This expansion follows similar moves by the asset manager in the US and marks a significant step towards mainstream adoption of blockchain technology.

The company unveiled 12 new tokenized share classes based on six funds across 15 European markets, including sterling, euro, and dollar share classes. These funds comply with EU regulations and are designed for corporate treasurers and asset managers seeking to manage operating and reserve cash digitally.

BlackRock's CEO, Larry Fink, has championed tokenization technology as a way to modernize financial markets. The company collaborated with JPMorgan on the project using the bank's Kinexys platform, which enables onchain share classes.