zerohash has extended its stablecoin conversion infrastructure to support BlackRock's newly launched tokenized money market fund.
The move extends an existing relationship between the two companies and broadens the scope of zerohash's role within BlackRock's tokenised product suite.
zerohash has provided stablecoin conversion infrastructure behind BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) since 2024. That relationship began when Securitize, the tokenisation platform administering BUIDL, integrated with zerohash to allow qualified investors to convert USDC to USD in order to subscribe to the fund. In addition, the infrastructure supporting BUIDL is now being extended to BRSRV, giving investors in the newer vehicle access to the same conversion rails.
Zzerohash's role centres on providing regulated rails that allow investors to move into and out of BlackRock-related tokenised funds using stablecoins. This positions the company as an intermediary layer between traditional payment rails and onchain infrastructure, a function that has become increasingly relevant as asset managers expand their tokenisation offerings.
Edward Woodford, founder and CEO of zerohash, said that tokenisation's value lies partly in the ability to move value instantly and globally, and that onchain money movement rails give traditional payment infrastructure an onchain complement. It was also added that the company intends to continue scaling its integration with BlackRock funds.
The initiative points to a broader shift in how institutional investors access short-duration, cash-like instruments onchain. Tokenised money market funds such as BUIDL and BRSRV allow qualified investors to hold exposure to underlying assets, such as US Treasuries, while settling and transacting using stablecoins rather than traditional wire transfers. This can reduce settlement times and allow for round-the-clock movement of capital, a feature not typically available through conventional fund administration processes.
Implications for the ecosystem
The expansion reflects a continuing trend of asset managers pairing tokenised fund products with regulated stablecoin infrastructure providers to handle subscription and redemption flows. As more asset managers explore tokenised cash and short-duration products, infrastructure providers such as zerohash are positioned to play a recurring role in bridging fiat, stablecoins, and tokenised securities. The scale of zerohash's reported market share in tokenised Treasury flows suggests that a small number of infrastructure providers currently handle a substantial share of onchain conversion activity in this segment, a dynamic likely to be tested as competitors and new entrants seek to serve the same market.
