BlackRock, one of the world's largest asset management companies, launched the tokenized fund BUIDL on Ethereum in March to expand investors' interest in on-chain products by enabling the issuance and trading of fund ownership on the blockchain. access, providing instant and transparent settlement and allowing cross-platform transfers. As of October 15, AUM reached $550 million.
BUIDL implements conversion between US dollars and USDC
BUIDL is a currency fund that invests 100% of its total assets in cash, U.S. Treasury bonds and repurchase agreements, seeking to provide a stable value of $1 per token and direct daily accrued dividends as new tokens each month Payment is made into the investor’s wallet. This allows investors to earn income while holding tokens on the blockchain. Investors can transfer their tokens to other pre-approved investors 24/7/365.
Now, qualified investors can directly convert USDC stablecoins and US dollars through the integration between tokenization company Securitize and encryption service infrastructure platform Zero Hash, making it easier to invest in BUIDL.
Zero Hash LLC is a FinCen-registered money services business and regulated money transmitter operating in 51 U.S. jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed by the New York State Department of Financial Services to engage in virtual currency business activities.
BUIDL's assets reach US$550 million
BlackRock’s first tokenized fund, BUIDL, has overtaken Franklin Templeton’s year-old BENJI in less than six weeks since its launch, according to 21Shares’ Dune dashboard. The current total asset management scale of tokenized government bonds is US$2.154 billion. The first is BUIDL's US$550 million, Franklin Templeton's BENJI is US$420 million, and Ondo Finance's USDY and OUSG are both based on BUIDL. Tokenized commodities show BlackRock’s leading position in the RWA market.
This article BlackRock BUIDL uses Zero Hash to achieve seamless conversion between U.S. dollars and USDC first appeared on Chain News ABMedia.
