BlackRock Brings European Tokenized Money Market Funds to Market via JPMorgan Partnership
In a major institutional push into blockchain finance, BlackRock and JPMorgan are launching tokenized versions of select money market funds across Europe, enabling round-the-clock settlement on blockchain infrastructure.
Leading asset manager BlackRock is expanding its footprint in tokenized finance by bringing blockchain-based versions of select money market funds to European investors. The offering represents a substantial institutional commitment to blockchain infrastructure, leveraging JPMorgan’s Kinexys platform to deliver 24/7 market access for traditionally regulated financial products.
Multi-Currency Tokenized Fund Launch
The tokenized funds will be offered in three denominations—pounds sterling, euros, and US dollars—drawn from BlackRock’s Institutional Cash Series, which manages approximately $311 billion across its full fund family. Each digital token represents ownership of shares in the underlying money market fund and can be transferred continuously between approved digital wallets at any time of day or night. JPMorgan’s Kinexys platform provides the technical infrastructure required to tokenize the funds, while JPMorgan continues functioning as the transfer agent responsible for ongoing fund administration and settlement operations.
Institutional Demand Driving Adoption
The expansion responds to demonstrated interest from multiple institutional constituencies. Digital wallet providers, corporate treasurers managing large capital pools, and capital markets participants have all signaled appetite for tokenized cash products that improve operational efficiency in collateral management. Companies exploring intracompany payment solutions have found particular appeal in the peer-to-peer transfer capabilities that blockchain-based funds enable, allowing instantaneous movement of value across internal divisions without traditional banking intermediaries.
Building on Proven Success
The European launch builds on BlackRock’s established presence in blockchain-based cash management. The firm previously entered the tokenized institutional liquidity space with BUIDL, its US dollar-focused fund launched in 2024, which has accumulated $2.67 billion in assets according to RWA.xyz. That demonstrated institutional appetite for blockchain-based money management solutions likely influenced the decision to expand into multiple currencies and European markets.
This institutional-scale deployment of traditional finance products on blockchain infrastructure accelerates adoption of digital settlement networks across global markets, strengthening the infrastructure ecosystem that supports all blockchain and crypto assets.
Source: Bloomberg, via Cointelegraph. Not financial advice.