Standfirst: Asset manager BlackRock has introduced two new tokenized money market products to its blockchain-based platform. Both the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and a new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) have been launched through Ethereum, aiming to qualify as eligible reserve assets for permitted U.S. payment stablecoins under the GENIUS Act.
BlackRock has expanded its tokenized cash platform by offering two new products: BSTBL, an on-chain share of BlackRock’s Select Treasury Based Liquidity Fund, and BRSRV, a daily dividend reinvestment vehicle across multiple blockchains. These funds were previously filed for in May this year and are designed to align with the regulatory framework proposed by the GENIUS Act, which seeks to regulate payment stablecoin issuance.
Written by Oliver Grant
Markets Desk
