Moody’s awards top rating to Fidelity and BlackRock's tokenized money market funds
The AAA rating signals the highest level of credit quality, liquidity and capital preservation.
By Omkar Godbole|Edited by Sheldon Reback May 14, 2026, 8:49 a.m. 2 min readMake preferred on
What to know:
- Moody’s awarded its top rating, AAA-mf, to tokenized money market funds issued by Fidelity and BlackRock, signaling the highest levels of credit quality, liquidity and capital preservation.
- Fidelity’s FILQ fund, introduced on May6 and built on Sygnum’s Desygnate tokenization platform with infrastructure support from JPMorgan Chase, Apex Group and Chainlink, aims to enable real-time, onchain cash settlement.
- Tokenized U.S. government debt products have surged to more than $15 billion in assets under management from $1 billion in two years, with BlackRock’s BUIDL fund accounting for about 15% of the market.
Moody’s assigned its highest credit rating to tokenized money market funds from Fidelity and BlackRock, validating their safety as yield-bearing onchain products.
The AAA-mf rating signals an extremely strong ability to ensure high liquidity and capital preservation and the lowest level of risk.
Fidelity's FILQ fund debuted on May 6. The product is powered by Swiss digital asset bank Sygnum's Desygnate tokenization platform, which enables onchain fund registries, smart contract-based settlement and stablecoin subscriptions and redemptions.
It also includes infrastructure support from JPMorgan Chase for custody and fund administration, Apex Group for transfer agency services and Chainlink, which publishes the fund’s net asset value and distribution data onchain.
"There is no tokenized finance without tokenized liquidity. Once markets settle in real time, cash must settle in real time too," Emma Pecenicic, head of digital assets distribution at Fidelity International, said in a statement.
BlackRock's BUIDL, introduced in March 2024, is one of the largest tokenized Treasury funds in the world. The fund received a AAA rating yesterday, more than two years after its debut, according to a post on X by Securitize, its transfer agent and tokenization platform.
Money market funds deal in high-liquidity, short-term debt securities with maturities generally under one year, such as Treasury bills, commercial paper, and certificates of deposit. Investors use money market funds as a safe place to park cash while still earning some interest.
Tokenized U.S. government debt products, including Treasury bills, notes, bonds and money market funds, have rapidly gained traction among both traditional financial institutions and crypto-native firms.
The onchain tokenized Treasury sector now has total assets under management of over $15 billion, up from $1 billion in just two years, according to data source rwa.xyz. The growth is driven by demand for onchain versions of low-risk, yield-bearing instruments.
tokenized creditBlackRockMore For You
Bitcoin investors yanked $635 million from spot ETFs in a day. Here's what it means for price
By Omkar Godbole2 hours ago
The single-largest outflow since late January comes as bitcoin turns lower from the 200-day moving average.
What to know:
- Investors have pulled about $1.26 billion from U.S. spot bitcoin ETFs over the past five trading days, including a single-day outflow of $635 million on Wednesday, the largest since late January.
- Bitcoin’s rally has stalled below its 200-day moving average near $82,000, with the price slipping to around $79,400 as...
Bitcoin investors yanked $635 million from spot ETFs in a day. Here's what it means for price
2 hours ago
Claude helps recover $395,000 in bitcoin trapped on a computer for years
3 hours ago
TRUMP token down 5% as namesake handset begins shipping next week
4 hours ago
Solana drops 5%, bitcoin below $80,000 as Xi warns Trump on Taiwan conflict
4 hours ago
Ethereum app builder Consensys has delayed its potential IPO until fall
13 hours ago
The Protocol: Solana’s ‘Alpenglow’ upgrade is live for testing
16 hours agoTop Stories
Clarity Act amendments would remake key parts of crypto bill but have doubtful future
17 hours ago
Crypto wallet provider Ledger puts U.S. IPO plans on hold due to market conditions
18 hours ago
The $82,000 battle: bitcoin tests key resistance zone to form next major breakout
22 hours ago
Charles Schwab begins U.S. rollout of spot crypto trading for retail customers
22 hours ago
Nevada regulators push back after prediction market conference blames them for move
May 13, 2026
