BlackRock has ‘no commercial relationship’ with Hedera, HBAR sinks 32%

A BlackRock spokesperson confirmed the firm wasn’t directly involved in Archax and Ownera’s decision to tokenize shares of BlackRock’s ICS Treasury Fund on Hedera.rallied over 100% on Tuesday following the HBAR Foundation’s announcement on X stating that blockchain firms Archax and Ownera tokenized BlackRock’s ICS U.S. Treasury Fund on Hedera.

“BlackRock has no commercial relationship with Hedera nor has BlackRock selected Hedera to tokenise any BlackRock funds.” “As we have in the past, BlackRock will communicate directly with the public on the evolution of our digital asset strategy,” the spokesperson added. “What we saw on Twitter was kind of pretty much close to the truth Archax had clients that wanted to invest in the BlackRock money market fund. When they expressed an interest we opened an account at BlackRock so that we could,” explained Roford.

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