“Today’s launches represent an important evolution in how investors access and manage cash, while helping modernise capital markets infrastructure,” Beccy Milchem, Global Head of Cash Distribution and Head of the International Cash Management business at BlackRock, said in a press release shared with Decrypt.
Kara Kennedy, global head of market development at Kinexys, noted that, "Tokenization has moved from concept to execution," while BlackRock pointed to corporate treasury management, digital collateral and bank and wealth distribution channels as the use cases it expects the structure to open up.
The share classes are marketed to professional and qualified clients rather than retail investors, and are available in Bermuda, Estonia, France, Germany, Ireland, Lithuania, Luxembourg, Malta, the Netherlands, Singapore, Spain, Sweden and the UK.
The underlying funds are public debt constant net asset value and low volatility NAV money market funds, structures regulated under Europe's UCITS regime. BlackRock's Head of Digital Cash, Hannah Winter, said the tokenized versions preserve the same standards on capital preservation, liquidity and risk management as the existing share classes.
BlackRock's tokenization push
