Key facts
- BlackRock launched two new tokenized money market funds: BSTBL and BRSRV.
- The BRSRV fund records ownership on Solana and Ethereum.
- The funds invest solely in cash and short-term U.S. Treasuries.
- The products are designed for institutional investors managing stablecoin reserves.
- The funds aim to be eligible reserve assets for U.S. payment stablecoin issuers under the GENIUS Act.
- Ripple invested in Zilo and Licuido.
- Zilo and Licuido focus on transfer agency and tokenization solutions.
- The investments aim to expand XRP Ledger's capabilities for institutional finance.
- Tokenized funds will be usable as collateral from issuance.
- XRP holders can borrow Ripple's RLUSD stablecoin on Ethereum.
- Flare's FXRP token is accepted as collateral in Sentora's RLUSD vault on the Morpho lending protocol.
- XRP holders can borrow RLUSD without selling their XRP.
BlackRock has expanded its blockchain-based cash platform with the launch of two new tokenized money market funds: BSTBL and BRSRV. The BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) records ownership on both the Solana and Ethereum blockchains. These funds are specifically designed to invest solely in cash and short-term U.S. Treasuries, targeting institutional investors for the management of stablecoin reserves. A key objective for these products is to serve as eligible reserve assets for U.S. payment stablecoin issuers, as outlined by the GENIUS Act.
In parallel developments within the tokenization space, Ripple has made strategic investments in Zilo and Licuido. These companies specialize in transfer agency and tokenization solutions, with the aim of expanding the capabilities of the XRP Ledger for institutional finance. The initiative seeks to enable tokenized funds to be utilized as collateral directly from their issuance, addressing existing market inefficiencies.
Further enhancing the utility of XRP in decentralized finance, XRP holders can now borrow Ripple's RLUSD stablecoin on the Ethereum blockchain. This is facilitated through Flare's FXRP token, which is accepted as collateral in Sentora's RLUSD vault on the Morpho lending protocol. This development allows XRP holders to access liquidity without needing to sell their cryptocurrency holdings, representing a significant step for XRP's integration into DeFi applications.