BlackRock's tokenized reserve fund receives the highest principal stability rating from S&P Global Ratings.

Odaily Planet Daily reports that S&P Global Ratings on Monday assigned a “AAAm” rating to BlackRock’s new tokenized money market fund, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), its highest principal stability rating. The rating was based on factors including the credit quality of investments and counterparties, term structure, and management’s ability to maintain stable net asset value. S&P Global Ratings stated that it found no weaknesses in BlackRock’s advisors’ management and organization, credit research and analysis, risk management, and compliance. It also noted that the fund’s tokenization framework is operationally resilient, employing a permissioned architecture that restricts transactions to whitelisted wallets to mitigate network, smart contract, and blockchain network risks. BRSRV launched on Monday as an open-ended managed investment company with the goal of making its shares eligible as reserve assets for stablecoin issuers under the GENIUS Act. The fund will hold cash, U.S. Treasury securities maturing in 93 days or less, and overnight repurchase agreements secured by Treasury instruments, maintaining a weighted average maturity of no more than 60 days and a weighted average lifetime of no more than 120 days. S&P Global Ratings released a separate summary of its stablecoin stability assessment on Tuesday, stating that 6 out of the 11 stablecoins it covers have “sufficient” or stronger ability to maintain their fiat currency peg. USDT remains at a level 5 (“weak”), TUSD and USDe are both at level 5; USDC, EURC, USDG and USDP are at a level 2 (“strong”).