BlackRock Tokenized Money Market Fund Gets S&P’s Top AAAm Stability Rating

BlackRock’s tokenized money market fund has received the highest stability rating from S&P Global Ratings.

Cointelegraph reported on August 5 that S&P assigned its top AAAm rating to BlackRock’s BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, or BRSRV.

S&P said it awarded the rating after reviewing the fund’s investment assets, the credit quality of its counterparties, its maturity structure and its ability to maintain a stable net asset value through portfolio management.

The ratings firm also found no notable weaknesses in BlackRock Advisors’ operating framework, credit analysis, risk management or internal controls.

It added that the tokenized structure was designed to mitigate cyberattack, smart-contract and blockchain network risks, and uses a permissioned model that allows transactions only through approved wallets.