BlackRock Unveils Tokenized MMF in Europe, Built on JPMorgan's Kinexys Infrastructure

BlackRock, the largest U.S. asset manager, has launched its first tokenized fund offering in Europe on August 4. The launch is built on the firm's BlackRock Institutional Cash Series (ICS) money market fund platform with 12 new on-chain share classes created across six underlying funds.

The ICS transfer agent, an operating company under JPMorgan's umbrella, will continue to serve as the official shareholder registry. Investors can now transfer assets 24 hours a day, 365 days a year between approved digital wallets via smart contracts.

The offering includes share classes denominated in euros, British pounds, and U.S. dollars, all of which are existing funds compliant with UCITS (the European Union's harmonized regulatory framework for investment funds).

Kara Kennedy, Global Head of Market Development at Kinexys, stated that 'tokenization has moved from concept to execution,' underscoring the industry's inflection point.