# 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.

- Published: 2026-08-04T05:32:35.401Z
- Canonical: https://polylog.news/crypto/2026-08-04/blackrock-and-mastercard-move-into-stablecoin-plumbing-as-mo
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/08/03/blackrock-expands-tokenized-cash-with-new-blockchain-based-money-market-offerings), [CoinDesk](https://www.coindesk.com/markets/2026/08/03/circle-internet-slides-after-morgan-stanley-downgrade-cut-in-price-target), [crypto.news](https://crypto.news/mastercard-completes-bvnk-acquisition-stablecoin-push/), [Polylog editors](https://polylog.news)

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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