The asset manager is bringing a traditional cash-management product onto Ethereum, extending the push to tokenize real-world assets on public blockchains.
BlackRock has launched a tokenized money-market fund on Ethereum, marking another step in the migration of traditional financial products onto public blockchains. Tokenization (turning real-world assets into blockchain-based tokens) is typically used to make conventional instruments easier to transfer, track, and integrate into digital-asset infrastructure. The move ties one of the world’s largest asset managers to a fast-growing corner of crypto focused on real-world assets.