BlackRock (NYSE:BLK), the largest asset manager in the world, has announced the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which is powered by Securitize’s tokenization platform.
First launched on Ethereum in March, the Fund will expand across the blockchain ecosystem with new shares utilizing Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon. By using the various blockchains, the funds can provide almost real time transfers, flexible custody and managed dividend distribution.
It is claimed that BUILD is the largest tokenized fund in assets under management (AUM) in the world – something accomplished in just 40 days. Decentralized autonomous organizations (DAOs) and other firms may build on the Fund.
BUIDL’s initial investment minimum is $5 million. BUIDL is currently only available to Accredited Investors.
Securitize CEO and co-founder Carlos Domingo says they wanted to develop an ecosystem that takes advantage of tokenization.
“Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem. With these new chains we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.”
BNY is the fund administrator and custodian for BUIDL.
Last month, Securitize announced that it had surpassed over $1 billion in tokenized assets.
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