Major asset manager BlackRock's tokenized fund, BUIDL, has sent 1.102 million USDC to Ondo Finance, a decentralized finance (DeFi) platform, according to Arkham data. Ondo Finance allows users to lend and borrow crypto assets, as well as participate in liquidity pools. The platform has seen a surge in activity in recent months, with total value locked (TVL) increasing from $100 million to over $300 million. BlackRock's investment in Ondo Finance is a further sign of the growing institutional interest in DeFi. BlackRock has been a major player in the traditional financial markets for decades, and its entry into DeFi could help to legitimize and expand the market.