BlackRock launches tokenised money market funds to back stablecoins

BlackRock, the world's largest asset manager, has launched two tokenised money market funds designed to act as reserves for stablecoin issuers. This initiative represents a significant expansion into blockchain-based finance by utilizing tokenisation to place traditional assets, such as Treasury bills, onto a blockchain. Additionally, the company has debuted tokenized access to $311 billion of money market funds within Europe, further integrating traditional financial instruments with distributed ledger technology to support digital asset ecosystems.