According to PANews, BlackRock's tokenized fund, BUIDL, has rapidly grown its asset management scale to $2.7 billion, showcasing its dominance in the tokenized U.S. Treasury market. Launched in March 2024, BUIDL is a tokenized money market fund aimed at institutional investors. It allows investment in high-liquidity assets such as cash, U.S. Treasuries, and repurchase agreements through blockchain tokens pegged 1:1 to the U.S. dollar, providing daily dividend yields in token form.
Currently, approximately 92% of BUIDL's assets are deployed on the Ethereum network. To expand its business and enhance efficiency, BlackRock has extended BUIDL's deployment to seven additional blockchain networks, including Solana, Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
