BlackRock, the biggest asset-management platform, has announced the expansion of the tokenized RWA fund. As per Avalanche, BlackRock is broadening its tokenized fund named ‘BUILD’ to five additional blockchains beyond Ethereum, including Polygon, OP Mainnet of Optimism, Avalanche, Arbitrum, and Aptos.
Rumor has it BUIDL landed on a new chain Tokenized through @Securitize, the @BlackRock USD Institutional Digital Liquidity Fund is the largest tokenized treasury fund globally, marking the latest milestone in the growing tokenized asset ecosystem on Avalanche pic.twitter.com/tjpgHaYVUM
— Avalanche9000 (@avax) November 14, 2024
BlackRock Broadens Its Project ‘BUILD’ to Polygon, Optimism, Avalanche, Arbitrum, and Aptos
Avalanche disclosed that this expansion of BlackRock’s ‘BUILD’ widens the access to the biggest money-market fund coin. The BlackRock USD Institutional Digital Liquidity Fund has been established in collaboration with Securitize (a tokenization forum). The users can now access the project on Polygon, Optimism’s OP Mainnet, Avalance, Arbitrum, and Aptos.
Real-world assets’ tokenization is emerging as a unique trend at the junction of traditional finance and crypto. Digital asset entities are competing to bring things like private credit, government bonds, and funds to the blockchain sector. They intend to offer rapid settlements along with advanced operational efficiencies.
The Project Leverages Tokenization to Facilitate On-Chain and Off-Chain Investors
Carlos Domingo, the co-founder and CEO of Securitize, also discussed this development. As per the executive, the endeavor focuses on establishing an ecosystem to leverage the benefits of tokenization. He added that the integration with the five new blockchains facilitates achieving this objective. As a result of this, additional investors will conveniently leverage the core technology.
According to Avalanche, the management fee of BUILD is fifty basis points on Ethereum, Optimism, and Arbitrum. On the other hand, the respective fee is just twenty basis points on Polygon, Avalanche, and Aptos. This is another benefit for the users who pursue cost-effective operations. Via Avalanche, the fund provides immensely greater utility as compared with the conventional financial market. Overall, $BUILD has emerged as a highly attractive asset benefiting both the on-chain and off-chain investors.
