BlackRock Restructures Fund for US Stablecoin Reserves

BlackRock has made significant adjustments to its fund structure to comply with new U.S. stablecoin regulations. The asset management giant, managing over $13.5 trillion in assets, has implemented the BlackRock Select Treasury Based Liquidity Fund (BSTBL). This fund provides a secure storage solution for companies issuing U.S.-dollar-pegged stablecoins. Jon Steel, Global Head of Product and Platform for cash management at BlackRock emphasized the firm’s ambition to be a leading provider of reserve management services for stablecoin issuers.