BlackRock is providing tokenised access to select funds in its BlackRock Institutional Cash Series (ICS) European money market funds.
Using JPMorgan’s asset tokenisation platform, the new share classes will offer digital tokens in the traditional money market funds, available on the Ethereum blockchain.
This will enable new use cases for money market funds, such as transfer of fund holdings between investors’ wallets on the blockchain, enhanced liquidity and better visibility in the near term.
Beccy Milchem, global head of cash distribution and head of international cash management at BlackRock, said: “Today’s launches represent an important evolution in how investors access and manage cash, while helping modernise capital markets infrastructure.”
Hannah Winter, head of digital cash at BlackRock, added: “Tokenised money market funds allow us to bring high-quality, short-duration investment exposures into digital formats, while maintaining the same standards around capital preservation, liquidity, and risk management.”
