The BlackRock Monetary Market Fund, Buidl, has become available on Solana, announced security, marking another step in the thrust of the active manager in finance based on blockchain.
The expansion makes Buidl available on seven blockchains, in particular Ethereum, Polygon, Aptos, Arbitrum and Optimism. However, only 62 portfolios currently hold Buidl on a chain, according to Rwa.zyz.
The fund, officially the BlackRock USD Institutional Digital Liquidity Fund, combines a short -term yield portfolio in cash and American treasury bills with the capacity to settle the blockchain. Since its introduction to Ethereum in 2023, the fund has attracted $ 1.7 billion and has been on the right track to cross $ 2 billion in early April, according to Securitize.
“During the year since the launch of Buidl, we have experienced significant growth in tokenized demand for active world active ingredients, strengthening the value of the introduction of products of institutional quality,” said Carlos Domingo, co -founder and CEO of Securitize, in a press release. “While the Rwas and Treasury Bonnes market that grow, widening Buidl to Solana – a blockchain known for its speed, scalability and profitability – is a next natural step.”
The money market funds generally allow investors to gain interest in inactive species, but they are delivered with negotiation limitations such as limited operating hours. Blockchain versions like Buidl allow constant access.
Blackrock is not alone. Franklin Templeton offers a similar tokenized fund which currently has a market capitalization of $ 692 billion and 558 holders, and the figure markets recently launched YLDS, a team of interest. Other major tokenized cash flow funds include short -term Hashnote (USYC) yield yield and US dollars yield.
The tokenized treasure market is one of the fastest sectors among tokenized assets, increasing almost six times in the past year and has recently crossed $ 5 billion in market capitalization, according to Rwa.xyz.
