The Blackrock tokenized monetary market fund, Buidl, has been available in Solana, Securitize, marking another step in impulse of the Blockchain -based asset manager.
The expansion makes Buidl available in seven blockchains, including Ethereum, Polygon, Apt, arbitra and optimism. However, only 62 wallets currently have Buidl in the chain, according to Rwa.zyz data.
The background, officially the Blackrock USD Institutional Liquidity Fund, combines a cash and Treasury portfolio of the US. Since its introduction in Ethereum in 2023, the fund has resorted to $ 1.7 billion and is on the way to cross $ 2 billion in early April, according to Securitize.
“In the year since the launch of Buidl, we have experienced significant growth in the demand of active assets tokenized, reinforcing the value of bringing institutional grade products in the chain,” said Carlos Domingo, co -founder and CEO of Securitize, in a statement. “As the Rwas market and the tokenized treasure bonds gain impulse, expand Buidl to Solana, a block chain known for its speed, scalability and profitability, is a next natural step.”
The monetary market funds generally allow investors to obtain interest on inactive cash, but come with commercial limitations, as limited operating hours. Blockchain versions as Buidl allow constant access.
Blackrock is not alone. Franklin Templeton offers a similar tokenized fund that currently has a market capitalization of $ 692 billion and 558 holders, and the figures recently launched YLDS, a stablecoin of interest. Other important tokenized treasure funds include the short -term performance currency of Hashnote (USYC) and the performance of the US dollar.
The Tokenized Treasury Market is one of the fastest growing sectors among tokenized assets, which grows almost six times during the past year and recently crosses $ 5 billion in market capitalization, as shown by the data of Rwa.xyz.
