MarketPR
Tokenized share classes for select European money market funds managed by BlackRock (BLK) are now live on Ethereum, built on JPMorgan's (JPM) Kinexys digital assets infrastructure.
The funds in scope carry $311 billion in assets. For the tape, the next confirmable milestone is the scope of any expansion beyond the initial European launch.
The mechanics on Ethereum Kinexys is JPMorgan's institutional blockchain platform.
BlackRock selected it as the settlement and record layer for the new share classes, meaning fund ownership now exists as an Ethereum token rather than as a line in a traditional transfer agent ledger.
Keep reading