Quick take:
Launched in March 2024, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) grew rapidly to become the biggest tokenised fund in less than 40 days.
The company said in a press release that users of various blockchains will now be able to interact natively with BUIDL.
Last month, Franklin Templeton also expanded its tokenised money market fund to six blockchains including Aptos and Base.
BlackRock has launched new share classes of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon, expanding its tokenised fund to seven blockchains.
This expansion allows ecosystem application users across these blockchains to interact natively with the BUIDL fund.
Launched in March 2024 on the Ethereum blockchain, BUIDL grew rapidly to become the biggest tokenised fund in less than 40 days, surpassing Franklin Templeton’s On-Chain U.S. Money Market Fund (FOBXX).
As of this writing, BlackRock’s BUIDL, which is issued through real-world asset tokenisation platform Securities was valued at $510 million, while Franklin Templeton’s stood at $450 million.
BlackRock’s announcement comes just weeks after Franklin Templeton expanded its tokenised money market fund to six blockchains. FOBXX, originally offered through the Stellar blockchain is also now available on Base, Avalanche, Arbitrum, Polygon, and Aptos.
Commenting on the announcement, Securitize CEO and co-founder Carlos Domingo said in a statement: “Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem. With these new chains, we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.”
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The post BlackRock’s BUIDL Fund Expands Access to Seven Blockchain Networks appeared first on NFTgators .
