BlackRock brings tokenized money market funds to Europe via JPMorgan
BlackRock will tokenize select European money market funds through JPMorgan’s Kinexys blockchain infrastructure. The offering will cover pound sterling, euro, and US dollar share classes from BlackRock’s Institutional Cash Series, which is part of a broader fund range managing about $311 billion. Each token will represent a fund share and be transferable 24/7 between approved digital wallets. JPMorgan will provide the tokenization rails and remain the funds’ transfer agent. BlackRock says demand is coming from digital wallet providers, corporate treasurers, and capital markets participants looking for more efficient collateral and peer-to-peer payment use cases. This follows BlackRock’s 2024 launch of BUIDL, its tokenized US dollar liquidity fund, which has since grown to $2.67 billion.
