BlackRock brings tokenized money market funds to Europe via JPMorgan
JPMorgan’s Kinexys platform will tokenize select BlackRock money market fund shares denominated in pounds, euros and US dollars.
BlackRock will offer tokenized versions of select European money market funds using JPMorgan’s blockchain infrastructure.
According to a Tuesday Bloomberg report, the offering will include pound sterling, euro and US dollar share classes from BlackRock’s Institutional Cash Series, which collectively manage about $311 billion. The figure refers to the broader fund range, not the assets that will be tokenized.
Each token will represent a share in an underlying money market fund and can be transferred around the clock between approved digital wallets.
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