Blackrock’s tokenized Money Market Fund, Buidl, has become available in Solana, securitize announcedScoring another step by pushing the manager to the blockchain -based financial asset.
Expansion makes Buidl available on seven blockchains, including Ethereum, polygon, aptos, arbitrum and optimism. Only 62 dompets currently holding Buidl on-chain, however, according to RWA.ZYZ DATE.
The funding, officially the Blackrock USD Institutional Digital Liquidity Fund, combines a short-term cash and US treasury yield portfolio with the settlement and transfer of blockchain capabilities. Since its introduction to Ethereum in 2023, the fund had drawn to $ 1.7 billion and is on track to cross $ 2 billion by early April, according to Securitize.
“In the year since Buidl’s launch, we have experienced significant demand growth for tokenized real-world assets, strengthening the cost of bringing grade-grade products,” said Carlos Domingo, co-founder and CEO of Securitize, in a statement. “As the market for RWW and tokenized Treasury is gaining momentum, Buidl expansion in Solana – a blockchain known for speed, scalability, and cost efficiency – is a natural next step.”
Currency market funds usually allow investors to earn interest in idle cash, but they come along with trading limits such as limited operational time. Blockchain versions such as Buidl provide for continuous access.
Blackrock was not alone. Franklin Templeton offers a similar tokenized fund that currently has $ 692 billion market capitalization and 558 holders, and the Figure markets recently launched YLDS, AN Stablecoin of interest-bearing. Other major tokenized Treasury funds include the Hashnote Short Duration Offing Coin (USYC) and Ondo US dollar harvest.
Treasury’s tokenized market is one of the fastest growing sectors in tokenized assets, which grows almost six times last year and recently crosses $ 5 billion in market capitalization, Rwa.xyz data show.
