BlackRock (BLK) debuts tokenized access to $311 billion of money market funds in Europe
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Summary
BlackRock has introduced tokenized access to $311 billion worth of European money market funds, spanning 15 markets and including sterling, euro, and dollar share classes. This move follows BlackRock’s recent launch of tokenized cash offerings in the U.S. The tokenized funds are based on six UCITS-compliant money market funds, packaged into 12 new tokenized share classes.
Why it matters
According to BlackRock, these tokenized funds provide investors with size and liquidity in cash management, along with a new digital holding and transfer capability. The initiative targets corporate treasurers, asset managers, and investment consultants who use money market funds for managing operating and reserve cash, signaling blockchain’s growing role in real-world asset management.
Key context
The tokenized funds comply with the European Union's UCITS regulations, and BlackRock partnered with JPMorgan, using its Kinexys platform to facilitate the onchain share classes. The tokenized real-world asset market has expanded over 200% in the past year to exceed $30 billion, with projections from Citi estimating tokenized securities could reach $5.5 trillion by 2030.
Key numbers and entities
BlackRock (BLK), CEO Larry Fink, global head of cash distribution Beccy Milchem, JPMorgan, Kinexys platform, $311 billion in assets under management, 15 European markets. Tokenized funds are available in countries including Bermuda, Estonia, France, Germany, Ireland, Lithuania, Luxembourg, Malta, the Netherlands, Spain, Sweden, Singapore, and the U.K.
What remains unclear
The source does not flag any open questions or limitations regarding this development.