BlackRock Files to Tokenize $150B Treasury Trust Fund Shares on Ethereum Blockchain

BlackRock Inc. has filed with the U.S. Securities and Exchange Commission to introduce a new digital share class, termed DLT Shares, for its $150 billion Treasury Trust money market fund. The shares will utilize blockchain technology to mirror ownership records, a move that could be preparatory for future digital currency integration. The DLT Shares will be exclusively sold via BNY Mellon, which will support the blockchain integration for share recordkeeping. This initiative, involving tokenization on the Ethereum blockchain, represents a significant step in merging traditional finance with blockchain technology. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant