The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), issued in partnership with tokenization platform Securitize, is now accessible on the Aptos, Arbitrum, Avalanche, Optimism's OP Mainnet and Polygon networks. This expansion allows more investors to leverage the advantages of tokenization and increased operational efficiencies, maximizing the fund’s capabilities in the evolving cryptocurrency landscape.
Tokenization of real-world assets is among the hottest trends at the intersection of crypto and traditional finance, with global financial winners adopting blockchain technology to achieve quicker settlements and operational efficiencies. BlackRock's introduction of BUIDL reflects this paradigm shift as financial firms race to innovate.
With the introduction of BUIDL, backed by short-term U.S. government bonds and priced at $1, institutions can enhance cash management and use it as collateral, exemplifying its versatility in the decentralized finance ecosystem. The fund has accumulated $520 million in assets, marking it as a significant player.
"We wanted to develop an ecosystem that was thoughtfully designed to be digital and take advantage of the advantages of tokenization," said Securitize CEO Carlos Domingo. He noted that the new accessibility across chains is likely to attract more investors, enhancing efficiencies in processes that were previously challenging.
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