BlackRock's BUIDL token surpassed $500 million in market cap, according to Ethereum blockchain data provided by Etherscan on Monday. This is the first tokenized treasury product and has crossed this milestone in just four months since its launch in March. 🚀

BUIDL's growth has been fueled by other DeFi protocols such as Ondo Finance and Mountain Protocol using BUIDL as a backing asset for their yield products. Digital asset brokers such as FalconX and most recently Hidden Road have added the token to their collateral holdings for institutional investor clients on their networks. 📈

BUIDL “remains the core tokenized asset on which many other innovative RWA products will be built,” noted Securitize CEO Carlos Domingo.

The tokenized treasury market, including BUIDL, has more than doubled this year, rising from $780 million in January to $1.8 billion as of June 7. BlackRock's offering is a leader among tokenized products, with a market share of approximately 27%.

So what do you think? We are waiting your comments! 😊👇#DeFi#Web3