BlackRock launches 2 stablecoin money market funds for wallet users
BlackRock is rolling out two new money-market funds aimed at people who use digital wallets instead of regular bank accounts.
These funds focus on stablecoins, crypto tokens tied to currencies like the US dollar, so they're designed to be less risky than something like Bitcoin.
Tokenized assets surge 410% to $31B
There's been a huge spike in demand for blockchain-based assets, especially as rules like the Genius Act push for standardized stablecoins. Tokenized assets have shot up 410% since last year, reaching $31 billion.
BlackRock plans to launch tokenized shares linked to its $6.1 billion Treasury fund (BSTBL), with the securities set to be available on Ethereum alongside regular shares.
The second fund, the Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), is designed to operate across multiple blockchains for investors who use crypto wallets and stablecoins.