BlackRock Expands BUIDL Fund to Five Additional Blockchains
- BlackRock xpnds its tokenized mony fund, BUIDL, to fiv nw blockchins, nhncing blockchin prsnc.
- BUIDL now ncompsss Aptos, Arbitrum, Avlnch, Optimism, nd Polygon, with BNY Mellon srving s th custodin.
- Tokenized RWAs, lik U.S. Trsuris, ttrct invstors sking stbl yilds nd blockchin fficincy.
BlackRock nnouncd th xpnsion of its tokenized mony fund, BUIDL, to fiv dditionl blockchins on Novmbr 13. Initilly introducd on Ethrum, USD Institutionl Digitl Liquidity Fund (BUIDL) will now lso oprt on Aptos, Arbitrum, Avlnch, Optimism, nd Polygon, signling BlackRocks commitmnt to brodning its blockchin prsnc.
Th fund dministrtion nd custodil srvics for BUIDL will rmin with BNY Mellon, xtnding its rol from Ethrum to ths nw ntworks. Crtd in collbortion with Scuritiz, BUIDL functions s mony mrkt fund, primrily invsting in short-trm U.S. Trsury nd othr low-risk, intrst-bring ssts.
Demand for Tokenized Real Assets
Th xpnsion rflcts rising dmnd for tokenized real-world assets (RWAs) offring stbl, low-risk yilds of T-Bills nd othr mony mrkt instrumnts. As Crlos Domingo, CEO nd co-foundr of Scuritiz, said, W wntd to dvlop n cosystm tht ws thoughtfully dsignd to b digitl nd tk dvntg of th dvntgs of tokniztion. H furthr ddd tht this multi-chin pproch is xpctd to ttrct widr udinc of invstors sking to lvrg th fficincis of blockchin tchnology.
According to RWA.xyz, tokenized U.S. Trsury ssts r currntly vlud t round $2.3 billion. BUIDL rnks s th lrgst tokenized trsury fund by ssts undr mngmnt (AUM), followd by th Frnklin OnChin US Govrnmnt Mony Fund (FOBXX).
Investor Advantages in BUIDLs Expansion
In lin with BlackRocks gols, BUIDL is structurd to oprt smlssly within blockchin-bsd finncil products. Ech ddd blockchin brings nw usrs nd nbls mor pplictions. BUIDL offrs fturs lik on-chin yild gnrtion, flxibl custody options, nr rl-tim pr-to-pr trnsfrs, nd utomtic dividnd ccrul nd distribution ll dsignd to nhnc invstor xprinc.
Th mrkt for tokenized RWAs is vst, stimtd t $30 trillion globlly, ccording to Colin Butlr, Polygons hd of institutionl cpitl. Tokniztion of RWAs, from U.S. Trsury bills to high-vlu rtworks, could significntly incrs liquidity in sst trding by minimizing oprtionl brrirs, s highlightd in rcnt Unitd Stts Dprtmnt of th Trsury rport.
Th Trsurys rport lso notd tht distributd ldgr tchnology (DLT) nd smrt contrcts hold significnt bnfits for th U.S. Trsury mrkt, prticulrly in nhncing trnsprncy. It suggsts tht immutbl ldgrs cn offr grtr clrity to rgultors, issurs, nd invstors, llowing rl-tim insight into trding ctivitis, thrby rducing opcity in Trsury oprtions.
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Read more: https://www.tronweekly.com/blackrock-expands-buidl-to-five-new-blockchains/
Text source: TronWeekly
