STANDARD | S&P Rates BlackRock Tokenized Money Market Fund AAAm

S&P Global Ratings on Monday assigned BlackRock’s new tokenized money market fund, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), an AAAm rating, its highest principal stability fund rating. According to Odaily, the rating was based on investment and counterparty credit quality, maturity structure, and management’s ability to maintain a stable net asset value.S&P Global Ratings said it found no weaknesses in BlackRock Advisors’ management and organization, credit research and analysis, risk management, or compliance. The agency also said the fund’s tokenized framework has operational resilience and uses a permissioned structure that restricts transactions to whitelisted wallets to reduce network, smart contract, and blockchain risks.BRSRV launched on Monday as an open-end management investment company and aims for its shares to qualify as reserve assets for payment stablecoin issuers under the GENIUS Act. The fund will hold cash, U.S. Treasuries with maturities of 93 days or less, and overnight repurchase agreements backed by Treasury instruments, while maintaining a weighted average maturity of no more than 60 days and a weighted average life of no more than 120 days.In a separate stablecoin stability assessment summary released Tuesday, S&P said six of the 11 stablecoins it covered had sufficient or stronger ability to maintain their fiat peg. USDT remained at Level 5, or weak, while TUSD and USDe were also rated Level 5. USDC, EURC, USDG and USDP were rated Level 2, or strong.