Morning Edition · Tuesday, August 4, 2026Published at 1:45 AM EDT · New York
BlackRock Launches Tokenized Money Market Funds Built to Back Stablecoins
Both funds aim to qualify as eligible reserve assets under the GENIUS Act. On the same day, Morgan Stanley cut Circle to a lower rating partly because tokenized cash competes with USDC.
BlackRock has expanded its tokenized cash range with new blockchain-based money market funds. Both are intended to qualify as eligible reserve assets for permitted payment stablecoin issuers under the GENIUS Act, the US stablecoin statute.…
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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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