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BlackRock Launches 2 Tokenized Money Funds, Seeks License Under GENIUS Act

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BlackRock has unveiled two new tokenized money market assets as it further develops its digital asset strategy. It is now aiming to meet the standards set by the $GENIUS Act to be considered a reserve asset. The products have been previously submitted to the U.S. Securities and Exchange Commission (SEC) in May and will be targeted at the growing crypto stablecoin market.