BlackRock’s crypto push deepens with a retooled product to serve stablecoin issuers
The post BlackRock’s crypto push deepens with a retooled product to serve stablecoin issuers appeared on BitcoinEthereumNews.com.
BlackRock , a giant in the world of stocks and bonds, is ramping up its efforts to serve the stablecoin market, the company first told CNBC. This latest move from Larry Fink’s firm, set to be announced Thursday, aims to further capitalize on the boom in cryptocurrencies. The manager of $13.5 trillion in assets has retooled one of its money market funds with an investment strategy designed to appeal to stablecoin issuers. One of its defining attributes: It complies with the landmark piece of U.S. legislation, signed into law this summer by President Donald Trump , that provides a regulatory framework for stablecoins. Stablecoins are a key part of the cryptocurrency ecosystem — with a lot of potential growth ahead. Citi analysts forecasted in late September that, in an optimistic scenario, total stablecoin issuance could surge to $4 trillion by 2030, up from roughly $280 billion this fall. “We want to be — and we believe we are — a preeminent reserve manager” for stablecoin issuers, Jon Steel, the global head of product and platform for BlackRock’s cash management business, told CNBC ahead of Thursday’s announcement. After all, BlackRock has for years partnered with the second-largest stablecoin issuer, Circle, managing the majority of its reserve fund. Circle went public in June in a red-hot deal. With the updated fund, the world’s largest asset manager is looking to bring capabilities similar to what it does for Circle to the wider stablecoin issuer community. Stablecoins trade on digital ledgers known as blockchains, just like popular cryptocurrencies such as bitcoin. The difference, though, is that stablecoins are designed to maintain a consistent value relative to another asset — often pegged to the U.S. dollar — rather than gain in price over time. In this way, stablecoins are commonly used to transact on blockchains, including…
Filed under: News - @ October 16, 2025 12:28 pm