BlackRock, ISDA Push Tokenized MMFs
An article titled, "BlackRock's Nikhil Sharma pitches tokenized money market funds as instant collateral at TOKEN2049," on a website called Crypto Briefing," tells us, "Nikhil Sharma, BlackRock's Director of Digital Assets, says tokenized money market funds could be posted as collateral directly. That means no redemption step and no waiting days for cash to settle. Sharma is on the speaker lineup for TOKEN2049 Singapore 2026, set for October 7-8 at Marina Bay Sands. His focus is tokenized money market funds (tMMFs) and stablecoins." The piece adds, "On August 3, 2026, BlackRock launched two new tokenized funds: BSTBL and BRSRV. Both are targeting eligibility as reserve assets under the US GENIUS Act, the federal framework for stablecoins. BRSRV is built specifically for stablecoin reserves and digital-native institutions. Both products build on BUIDL, the tokenized fund BlackRock introduced in March 2024. BUIDL currently manages around $2.5 billion in assets. BlackRock has rolled out tokenized share classes for its European UCITS money market funds, which totaled $311 billion in assets under management as of June 30, 2026." In related news, a speech from the ISDA Digital Assets Forum" quotes Scott O'Malia's Opening Remarks." He comments, "I'll start with tokenization. By enabling near-instant settlement, improving intraday liquidity management and enhancing cross-border collateral mobility, tokenization has the potential to bring substantial efficiency gains to the derivatives market. It also opens the door to new types of assets being posted as collateral, with tokenized money market funds emerging as the front-runner. With trillions of dollars held globally, money market funds have always been a promising source of collateral, but the operational workflows have prevented them from being posted directly. By tokenizing money market funds, we can overcome many of those operational challenges and enable market participants to reduce their reliance on cash and government securities for collateral. This, in turn, could improve market resilience during future episodes of stress, reducing the risk of liquidity squeezes."
