BlackRock Brings $311 Billion Money Market Funds Onchain in European Debut

BlackRock rolled out tokenized share classes for select European money market funds on Tuesday, marking its first tokenized fund access in the region. Built on Ethereum in partnership with JPMorgan’s Kinexys platform, the launch covers Institutional Cash Series funds holding a combined $311 billion as of June 30. Kinexys acts as a bridge between blockchain transactions and traditional fund registries, with tokens representing shares while official records stay with transfer agents.

Twelve Fund Classes, Round-the-Clock Access

The rollout spans 12 tokenized share classes across government and liquidity funds in euros, sterling and dollars. Investors gain 24/7 peer-to-peer transfers via smart contracts alongside yield-bearing exposure and near real-time tracking. BlackRock’s digital cash lead said the approach preserves standard capital preservation and risk management practices while modernizing access.

Broader Institutional Applications

The tokens support treasury management, collateral use and bank distribution across 15 markets, including the UK, Germany and Singapore. This follows BlackRock’s launch of two stablecoin reserve products a day earlier, part of a wider push toward digital wallet access for Treasury funds, ETFs and private markets.