BlackRock to Launch Genius Act-Compliant Fund for Stablecoin Issuers
BlackRock’s launch of the Select Treasury Based Liquidity Fund (BSTBL) highlights its focus on providing stablecoin issuers with a compliant and simplified reserve management solution under new U.S. regulations.
Summary
BlackRock is launching the Select Treasury Based Liquidity Fund (BSTBL) to support stablecoin issuers by complying with U.S. federal regulations requiring high-quality liquid reserves. The fund aims to simplify reserve management with a focus on Treasury securities, responding to evolving regulatory demands for stablecoin products.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, such as fiat currency, to reduce price volatility.
- Money Market Fund: A type of mutual fund investing in short-term, low-risk securities, offering liquidity and stability.