As CryptoNoticias announced on March 20, BlackRock, a company specializing in financial asset management, presented a tokenized investment fund on the Ethereum network.
In your first week, BUIDL—the name of the fund and the token it represents—attracted deposits of more than $245 million, It is not necessary to rely on audit to view this information, but it can be viewed anywhere block explorer Ethereum’s because the information is public and updated in real time when tokens are issued (or destroyed).
With these data, BUIDL is ranked second in the category of token investment funds, The first place is occupied by Franklin Onchain US Government Money Fund (FOBXX) of Franklin Templeton Company. It has 360 million dollars Deposit,
BUIDL works similar to a stablecoin as each token is equal to one dollar. That’s the difference with stablecoins BUIDL, month after month, pays dividends to the wallets holding the tokens., Those dividends come from BlackRock’s investments in U.S. Treasury bills and repurchase agreements. Also, a portion of the portfolio is held in cash.
Although tokens can be transferred and traded 24 hours a day, 365 days a year, Only pre-approved investors can hold these tokens in their wallets, Additionally, the minimum investment is $100,000.
DeFi platform boosts development of BUIDL
Has been one of the largest investors of BUIDL Ondo Finance Platform, which transferred $95 million assets to BUIDL, it was a strategic move To allow immediate settlement of its own tokens backed by US Treasury bonds.
With this move, investors in Ondo Finance’s OUSG fund can buy and sell that token at any time, not just during traditional market hours.
Natahan Allman, CEO of Oondo Finance, said in a statement to the press: “Until now, many investors have been reluctant to use OUSG due to the time it takes to redeem, and given the 24/7/365 and fast access to cryptocurrency. The volatile nature of the markets and the need for capital that often arises from them. (…) OUSG will become significantly more useful as a store of value and collateralized assets within the cryptocurrency ecosystem.
CriptoNoticias reported this 3 days ago These initiatives have given rise to the Ondo Finance (ONDO) governance token.Which entered the top 100 of digital assets with the highest market capitalization.
