BlackRock, JPMorgan Tap Stablecoin Firms To Being Treasury Reserves On-Chain

Blockchain finance keeps gaining traction on Wall Street as tokenized money market funds come as a potential reserve asset to the stablecoins issuers. On-chain analytics service Token Terminal indicates that companies like BlackRock and JPMorgan Chase are preparing tokenized treasury products. The catch is that these products emerge as a substitute to part of the off-chain reserves that are currently used to back stablecoins.