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BlackRock and Securitize’s BUIDL reached a marketplace capitalization of $1.7 billion, dominating tokenized US Treasury products.
BlackRock’s tokenized wealth marketplace money has expanded to the Solana blockchain arsenic its marketplace capitalization approaches the $2 cardinal mark.
On March 25, Carlos Domingo, the laminitis and CEO of real-world plus (RWA) tokenization level Securitize, welcomed the Solana web to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This marked the tokenized wealth marketplace fund’s enlargement to different blockchain network.
BlackRock launched BUIDL successful March 2024 successful concern with Securitize. In a Fortune report, Securitize main operating serviceman Michael Sonnenshein said the money aims to marque offchain assets “unboring.”
The enforcement said they are advancing immoderate of the deficiencies of wealth markets successful their accepted formats.
BlackRock’s BUIDL astatine $1.7 cardinal marketplace cap
RWA information level rwa.xyz shows that BlackRock and Securitize’s BUIDL leads the Tokenized United States Treasurys successful marketplace capitalization. The platform’s information shows that the money has a marketplace capitalization of $1.7 cardinal and a astir 34% marketplace share.
BlackRock's BUIDL reached a $1.7 cardinal marketplace cap. Source: RWA.xyz
BUIDL dominates the Tokenized US Treasurys database arsenic the starring plus successful its class. The tokenized merchandise is followed by Hashnote, Franklin Templeton and Ondo USDY.
The money has experienced important maturation successful conscionable 7 months. In July 2024, BUIDL’s marketplace capitalization first reached $500 million. Its existent marketplace capitalization represents 240% maturation since July.
BUIDL’s terms is pegged to the US dollar and pays regular accrued dividends to investors each period done its Securitize partnership. As of August 2024, the money had paid its holders $7 million successful dividends.
Related: Frax assemblage approves frxUSD stablecoin backed by BlackRock's BUIDL
BUIDL’s Solana enlargement comes implicit 1 twelvemonth since launch
The tokenized product’s enlargement into the Solana ecosystem comes months aft the merchandise started to spell multichain.
On Nov. 13, the tokenized wealth marketplace fund, which was initially launched connected the Ethereum network, expanded to Aptos, Arbitrum, Avalanche, Optimism and Polygon. The concatenation enlargement was expected to pull much investors to the product.
While tokenized Treasurys person expanded to different blockchains, Ethereum continues to predominate the plus class. According to RWA.xyz, Ethereum-based treasuries person a marketplace capitalization of $3.6 billion, 72% of the market.
Tokenized treasuries marketplace capitalization by blockchain. Source: RWA.xyz
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