🔥 #BlackRock launches its first Tokenized Fund, BUIDL, on Network #Ethereum
💠 BlackRock today announced the first tokenized fund issued on the Ethereum blockchain - BlackRock USD Institutional Digital Liquidity Fund (“BUIDL” or “Fund”).
➡️ BUIDL will offer qualified investors the opportunity to earn US Dollar returns by subscribing to the Fund through Securitize Markets, LLC.
➡️ BUIDL seeks to provide a stable value of 1 USD per token and pay cumulative daily dividends directly to investors' wallets in the form of new tokens every month.
➡️ BlackRock Financial Management, Inc., will be the investment manager of the Fund and The Bank of New York Mellon will serve as custodian of the Fund's assets and as fund manager. Securitize will act as a transfer agent and tokenization platform, managing tokenized shares and reporting on registration, redemption and distribution.
