BlackRock, Janus Henderson tokenized funds get instant redemptions with new $1 billion facility
CoinDesk·
60-second summary
BlackRock's BUIDL and Janus Henderson's money market funds are now offering instant redemptions into stablecoins thanks to a $1 billion credit facility by Grove, significantly reducing settlement time from days to instantaneous. This new facility enables investors to access their funds on demand, increasing liquidity and convenience for institutional investors in the crypto market.
A new credit facility by Grove aims to allow instant redemptions into stablecoins from BlackRock's BUIDL and Janus Henderson's money market funds, reducing settlement time from days to instantaneous.