Techub News reported that according to Cointelegraph, Etherscan data showed that the market value of BUIDL, issued by global asset management company BlackRock in cooperation with Securitize and backed by U.S. Treasuries, exceeded US$500 million on Monday. This is the first tokenized treasury product to achieve this milestone, and it took only four months since its launch in March.

The growth of BlackRock’s tokenized products comes at the expense of other decentralized finance protocols such as Ondo Finance and Mountain Protocol, which use BUIDL as a backing asset for their own yield products. Digital asset brokers such as FalconX and, more recently, Hidden Road have also added tokens as collateral assets in their networks for their institutional investor clients.
 
https://cointelegraph.com/news/blackrock-tokenized-treasury-fund-buidl-reaches-500-million