A BlackRock spokesperson confirmed the firm wasn’t directly involved in Archax and Ownera’s decision to tokenize BlackRock’s ICS Treasury Fund on Hedera.
BlackRock has confirmed it has “no commercial relationship” with Hedera and that it did not choose the Hedera Hashgraph to tokenize any BlackRock funds, including its $22 billion money market fund.
Hedera’s token (HBAR) rallied over 100% on Tuesday following an HBAR Foundation’s announcement on X, stating that blockchain firms Archax and Ownera tokenized BlackRock’s ICS U.S. Treasury Fund on Hedera.
Some misinterpreted the post to suggest BlackRock played an active role in the tokenization effort, but a BlackRock spokesperson has confirmed that’s not the case.
