BNY Mellon launched a digital transfer agency platform using blockchain technology to service digital and traditional funds. BlackRock will serve as a primary client to modernize its fund servicing operations.
BlackRock plans to introduce BSTBL, a new tokenized share class of its money market fund. This initiative aims to meet growing demand for stablecoin reserve requirements.
The platform creates a unified record of fund ownership on a blockchain. This shift is designed to increase operational efficiency and transparency across the fund's lifecycle.