BlackRock Launches 2 Tokenized Money Funds, Seeks License Under GENIUS Act

BlackRock has unveiled two new tokenized money market assets as it further develops its digital asset strategy. It is now aiming to meet the standards set by the $GENIUS Act to be considered a reserve asset. The products have been previously submitted to the U.S. Securities and Exchange Commission (SEC) in May and will be targeted at the growing crypto stablecoin market.