BlackRock Stablecoin
BSTBLBSTBL is a proposed BlackRock tokenized stablecoin filed with Securitize, backed by money market fund shares holding US Treasuries, repo and cash. It targets an institutional, yield-bearing dollar substitute settled on-chain, but the filing is pending and the token is not yet liquid, with institutional-only access and a redemption window still to be defined. BSTBL carries a provisional RWTS Trust Score of 75/100 (Tier 2), reflecting BlackRock's reserve quality offset by an unproven launch, undefined redemption terms, and no track record. We will re-rate it once the product goes live and reserves are independently attested.
- Issuer / protocol
- BlackRock / Securitize
- Backing
- Money market fund shares (US Treasuries, repos, cash)
- Redemption / lock-up
- Institutional-only at launch. Redemption window TBD.
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Ethereum
- Tier
- Tier 2 — Treasury & Fiat-Backed
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Projections assume constant APY of 0.00%. Actual returns may vary. Not financial advice.
Beyond BSTBL's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $50.00M indicates developing on-chain liquidity. Lock-up: Institutional-only at launch. Redemption window TBD..