Asset management giant BlackRock announced the expansion of BUIDL, the company’s on-chain money market fund, to five new blockchains.
According to an announcement from real-asset tokenization company Securitize, a brokerage partner of BlackRock, BUIDL will support layer-1 blockchains Aptos (APT) and Avalanche (AVAX), as well as layer-2 scaling solutions Arbitrum (ARB), Optimism (OP), and Polygon (POL). There is this.
Carlos Domingo, CEO and co-founder of Securitize, said:
“We wanted to develop an ecosystem that was carefully designed to be digital and take advantage of tokenization.
Real-world asset tokenization is expanding and we are excited to add these blockchains to increase the potential of the BUIDL ecosystem. With these new chains, we will see more investors looking to leverage the underlying technology to increase the efficiency of all tasks that have been difficult to perform until now.”
Launched in March, BUIDL, short for BlackRock USD Institutional Digital Liquidity Fund, is a tokenized money market fund designed to provide yield on U.S. Treasury bonds while providing a stable value of $1 per token.
According to Securitize, this expansion will help developers, decentralized autonomous organizations (DAOs), and other crypto companies build BlackRock’s products on the blockchain of their choice.
Last month, it was reported that BlackRock was in talks with a number of cryptocurrency exchange platforms, including Binance, OKX, and Deribit, about using BUIDL as collateral for derivatives contracts.
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