Blackrock’s USD Institutional Digital Liquidity Fund Set to Expand to 5 New Blockchains

CN
14 hours ago

The Blackrock USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize and first introduced on the Ethereum network in March 2024, will now extend access across several blockchains. BUIDL is a tokenized money market fund that invests primarily in short-term U.S. Treasury bills and other low-risk, interest-bearing securities.

BUIDL is set to introduce new share classes on Aptos, Arbitrum, Avalanche, Optimism, and Polygon, Blackrock recently announced. This effort allows BUIDL to be used in top blockchain-based financial products and infrastructure across ecosystems, marking the next stage in the tokenization market’s evolution. Every new blockchain makes it possible for users and the ecosystem of applications to engage with BUIDL natively.

In less than 40 days, BUIDL grew to become the world’s largest tokenized fund in terms of assets under management (AUM). This expansion into other blockchains gives BUIDL access to new ecosystems, providing investors, decentralized autonomous organizations (DAOs), and other digital asset-native businesses more options and access.

Securitize CEO and co-founder Carlos Domingo said, “Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem. With these new chains, we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.”

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