BlackRock Tokenizes $311B Cash Pool on JPMorgan Kinexys for Europe

Woofun AI reports that BlackRock has activated tokenized European money market funds via JPMorgan’s Kinexys blockchain, marking a strategic expansion into the continent’s institutional liquidity market.

The product suite encompasses pound sterling, euro, and US dollar share classes from BlackRock’s Institutional Cash Series, a broader range managing approximately $311 billion. While this figure represents total assets under management rather than the specific tokenized portion, each token functions as a direct share in the underlying fund.

Woofun AI data shows that these assets facilitate 24/7 transfers between approved digital wallets, with JPMorgan providing the infrastructure while retaining its role as the transfer agent.

Beccy Milchem, global head of cash distribution and head of international cash management, noted rising interest from digital wallet providers, corporate treasurers, and capital markets participants seeking optimized collateral solutions. Hannah Winter, head of digital cash, emphasized that peer-to-peer transfer capabilities specifically appeal to entities exploring intracompany payments, addressing a critical inefficiency in traditional settlement cycles.

This move extends BlackRock’s footprint beyond BUIDL, the US dollar-denominated institutional liquidity fund launched in 2024. According to RWA.xyz, BUIDL has accumulated $2.67 billion in assets, validating the demand for tokenized cash management among institutional clients.