BlackRock has launched 12 tokenized share classes for its European Institutional Cash Series money market funds, which manage a combined $311 billion. Partnering with JPMorgan's Kinexys platform on Ethereum, the rollout enables 24/7 peer-to-peer transfers for institutional clients across 15 markets. This European debut follows the launch of separate U.S. tokenized cash products, signaling a multi-jurisdictional strategy that utilizes different technology partners across global markets.
BlackRock tokenized share classes
- ▪The tokenized share classes cover euro, sterling, and U.S. dollar strategies in both distributing and accumulating forms.
- ▪The tokenized share classes are available to professional and qualified clients in 15 markets, including Bermuda, Estonia, France, Germany, Ireland, Lithuania, Luxembourg, Malta, the Netherlands, Singapore, Spain, Sweden, and the United Kingdom.
- ▪BlackRock launched 12 tokenized share classes across six funds in the BlackRock Institutional Cash Series on August 4, 2026.
JPMorgan Kinexys partnership
- ▪BlackRock partnered with JPMorgan's Kinexys platform to handle the tokenization and act as the translation layer between on-chain activity and traditional fund registers.
- ▪The official shareholder register for the tokenized funds continues to be maintained by the fund's traditional transfer agent infrastructure.
European money market funds
- ▪The underlying BlackRock Institutional Cash Series European money market funds manage a combined $311 billion in assets.
- ▪The underlying European funds are public debt constant net asset value and low volatility net asset value money market funds regulated under Europe's UCITS regime.
Tokenized real-world assets
- ▪Citi projects that the tokenized securities market could reach $5.5 trillion by the year 2030.
- ▪The global tokenized real-world asset market has grown to between $30 billion and $37 billion, with tokenized U.S. Treasuries accounting for approximately $16 billion.
- ▪BlackRock's first tokenized money market fund, BUIDL, was launched on Ethereum in March 2024 and has grown to manage approximately $2.5 billion to $2.6 billion in assets.
Multi-jurisdiction technology strategy
- ▪BlackRock is utilizing different technology stacks by jurisdiction, partnering with JPMorgan's Kinexys in Europe while leaning on Securitize and BNY Mellon for its U.S. tokenization initiatives.
- ▪On August 3, 2026, BlackRock expanded its U.S. tokenized cash strategy by launching the BlackRock Select Treasury Based Liquidity Fund on Ethereum and the Daily Reinvestment Stablecoin Reserve Vehicle.
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