According to Woofun AI, BlackRock (BLK.US) has formally established a strategic partnership with J.P. Morgan Chase (JPM.US) to introduce tokenized money market funds into the European market using its blockchain infrastructure, marking the key layout of traditional asset management giants in the field of cross-border digital assets.
The products launched this time cover shares denominated in pounds, euros, and dollars in the BlackRock (BLK.US) institutional cash series. The total assets managed by this series of funds are approximately US$311 billion. Note that this is the total size of the entire fund series rather than the tokenized portion. Each token represents a share of the corresponding fund and supports round-the-clock transfers between certified digital wallets. JPMorgan Chase (JPM.US)'s Kinexys company provides tokenized infrastructure, and JPMorgan Chase (JPM.US) itself continues to act as the transfer agent.
Woofun AI collated data and showed that the architecture decouples asset authorization and circulation technology.
Betsy Milcham, head of BlackRock's (BLK.US) global cash disbursement business, pointed out that digital wallet providers, corporate finance departments, and capital market participants have strong interest in this service, and their core appeal is to find more efficient collateral solutions. Hannah Winter, head of the digital cash business at BlackRock (BLK.US), added that the peer-to-peer transfer function is popular among companies that want to achieve internal fund settlement. Looking back at history, BlackRock (BLK.US) entered the tokenized cash management market as early as 2024 through BUIDL, an institutional liquidity fund denominated in dollars, and accumulated first-mover experience.
The results of the pilot project have verified the viability of this model. According to the data, the asset size of the BUIDL Fund has now grown to $2.67 billion. This data confirms institutions' demand for tokenized cash management tools, and provides market confidence support for the shares of the British pound and euro that are about to enter Europe.