BlackRock’s Tokenized Money Market Fund BUIDL Expands to Five Additional Blockchains

Securitize and BlackRock Collaborate to Extend BUIDL’s Reach

Securitize Partners with BlackRock to broaden BUIDL’s Availability

BlackRock’s tokenization partner, Securitize, has announced that BlackRock’s money market fund, BUIDL, is now accessible on five new blockchains. This move follows its initial launch on Ethereum in March, with expansions to Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon.

BUIDL Shows Significant Market Growth and Diversification

BUIDL stands as the largest tokenized money market fund on a public blockchain, boasting a market capitalization of $517 million. A portion of this balance is attributed to Ondo Finance’s own money market fund, which incorporates $192 million from BUIDL. Notably, Ondo’s OUSG offers a lower minimum investment of $5,000 and currently waives fees.

Cost Optimization Strategies for BUIDL on Different Blockchains

While management fees for BUIDL typically stand at 50 basis points, they have been reduced to 20 bps on Aptos, Avalanche, and Polygon. These lower costs are made possible through subsidies from foundations associated with the respective blockchains.

Securitize’s CEO Envisions a Scalable Tokenization Ecosystem

Carlos Domingo’s Vision for Real-World Asset Tokenization

Securitize CEO and co-founder Carlos Domingo emphasizes the significance of developing a digital ecosystem tailored for efficient tokenization. He highlights the scalability of real-world asset tokenization and the potential of incorporating new blockchains to enhance the BUIDL ecosystem.

Enhanced Investment Opportunities through New Blockchain Integration

The integration of BUIDL with additional blockchains opens up avenues for investors to leverage innovative technology for increased operational efficiencies. This expansion is poised to facilitate smoother transactions and enhance investment capabilities previously deemed challenging.

Seamless Integration with USDC for BUIDL Investments

Streamlined Investment Processes with Zero Hash and Circle’s Support

In October, Securitize integrated with Zero Hash to enable digital asset firms to utilize USDC for purchasing BUIDL and securely storing their funds on-chain. Circle, the issuer of the USDC stablecoin, remains committed to facilitating the conversion of BUIDL funds into USDC, offering investors greater flexibility in managing their investments. This development aligns with the growing trend of asset managers seeking shared stablecoin solutions for enhanced liquidity and ease of transactions.