Morning Edition · Tuesday, August 4, 2026Published at 1:32 AM EDT · New York
BlackRock and Mastercard Move Into Stablecoin Plumbing as Morgan Stanley Cuts Circle to Underweight
Two tokenized money market funds are designed to be held inside stablecoin reserves, and the bank cut its Circle price target to $38 from $106 on shrinking USDC supply.
BlackRock launched two tokenized cash products on Monday, and both are intended to qualify as eligible reserve assets for permitted United States payment stablecoin issuers under the GENIUS Act. One is a new fund holding cash, ultra-short T…
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Part of a tracked trend
Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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