Moody's assigns top AAA rating to BlackRock, Fidelity tokenized funds

Global ratings agency Moody's has assigned its highest credit rating, AAA-mf, to the tokenized money market funds (MMFs) of BlackRock and Fidelity, CoinDesk reported. The AAA-mf rating indicates that the funds have very strong liquidity and principal preservation capabilities, representing the lowest level of credit risk. Money market funds are low-risk products that invest in short-term debt instruments with maturities of one year or less, such as U.S. Treasury bonds, commercial paper (CP), and certificates of deposit (CD).