Patrick Davitt's questions to BlackRock Inc (BLK) leadership • Q2 2025
Question
Patrick Davitt from Autonomous Research inquired about the emerging opportunity for asset managers to manage stablecoin reserves, the potential for a pipeline of mandates similar to Circle, and why platforms use managers instead of buying treasuries directly.
Answer
CEO Laurence D. Fink described dialogues with central banks on stablecoins as 'vibrant' and sees a massive future in the tokenization of all assets. He stressed that for a stablecoin to be legitimate, it must be backed by high-quality government bonds of the underlying currency. He implied that BlackRock's role is to provide the scale, operational expertise, and trust required to manage these reserves safely, ensuring the integrity of the stablecoin.