BlackRock's BUIDL Fund Tops $500M as Tokenized Treasury Market Soars
"BUIDL continues to become the base tokenized asset for many other innovative RWA products to be built on," said Carlos Domingo, CEO of Securitize
Asset manager BlackRock's BUIDL token, issued in partnership with Securitize and backed by U.S. Treasuries, has surpassed $500 million market value on Monday, according to Ethereum blockchain data by Etherscan.
This is the first tokenized treasury product to achieve this milestone, having taken only four months since its debut in March.
The growth of BlackRock's tokenized product has been fueled by other decentralized finance (DeFi) protocols such as Ondo Finance and Mountain Protocol, which use BUIDL as a backing asset for their own yield-products. Digital asset brokers like FalconX and Hidden Road have also added the token to their collateral assets for their institutional investor clients across their networks.
"BUIDL continues to become the base tokenized asset for many other innovative RWA products to be built on," said Carlos Domingo, CEO of Securitize
U.S. Treasuries are at the forefront of tokenization of real-world assets, as digital asset firms and global financial heavyweights race to put traditional instruments such as government bonds, private credit and funds on blockchain rails, aiming to achieve faster settlements and operational efficiencies.
