BlackRock Launches Stablecoin Money Market Fund

BlackRock Revamps Fund to Support Stablecoin Issuers

• BlackRock is restructuring its money market fund to align with the US GENIUS Act, which regulates stablecoin issuers.
• The revamped BlackRock Select Treasury Based Liquidity Fund will focus on short-term US Treasury securities and overnight repurchase agreements.
• This move caters to the needs of stablecoin issuers like those of USDC and PYUSD by providing a secure reserve management option.
• The GENIUS Act mandates full reserve backing for stablecoins with assets such as US Treasuries.
• The restructured fund aims to meet the increasing demand for regulated, yield-bearing reserve options as stablecoin issuance grows.

BlackRock’s reconfiguration of its money market fund aligns with new regulatory requirements under the GENIUS Act, facilitating secure asset management for stablecoin issuers. This strategic move supports compliance and demand growth in the stablecoin sector.