BlackRock is expanding its $517M BUIDL fund to five new blockchains.
(This could reshape how institutions approach tokenisation in 2024.)
🔍 What you need to know:
1️⃣ New blockchains added: Aptos, Arbitrum, Avalanche, Optimism, and Polygon. This is a significant move beyond Ethereum and Bitcoin, signaling confidence in broader blockchain adoption.
2️⃣ Lower fees on select chains: Investors on Aptos, Avalanche, and Polygon will benefit from a 0.2% fee, compared to 0.5% for Ethereum-based holdings.
3️⃣ The power of tokenisation: BUIDL leverages blockchain to transform dollar-equivalent assets like cash and Treasury bills into digital tokens, enabling faster transactions and daily wallet dividends.
4️⃣ A bold institutional experiment: While Ethereum dominates with $3B in tokenised assets, BlackRock is testing waters on less established blockchains like Aptos and Avalanche.
💡 Why this matters:
Tokenisation is gaining traction. From JPMorgan to State Street, financial giants are exploring blockchain for efficiency. BlackRock’s move could signal a broader shift in institutional strategy toward multi-chain tokenisation.
This could be a game-changer for both DeFi and TradFi.
What’s your take on BlackRock’s move?
👇 Join the conversation in the comments.
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