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The world’s largest asset manager, BlackRock, has taken a bold step into web3 by filing to tokenize shares of its $150 billion money market fund.
Asset tokenization is a key aspect of Web3 and the future of the digital economy. BlackRock, the largest asset manager in the world, has acknowledged the shift in modern finance, fuelled by a rising desire for digital assets. Investors can now own a whole or a part of a real-world asset located in their dream locations across the globe without physical relocation, through the concept of tokenization.
In response to the demand for asset tokenization, BlackRock has officially filed to tokenize shares of its massive $150 billion money market fund. The financial giant signals its adaptation to the changing landscape of the digital economy and traditional finance, fuelled by blockchain technology adoption.
If the filing is successful, everyday investors could find a new way of interacting with traditional assets. Additionally, this makes the ownership and asset transfer process faster and easier as it happens on-chain with less documentation.
