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Read more: BlackRock Warns Markets Ignore Election Chaos Ahead
Launched on Ethereum in March 2024, the BlackRock BUIDL fund is a tokenized money-market fund whose ownership is represented by its native coin, BUIDL. This has been termed a major leap into the maturation of the tokenization market, finally allowing other blockchain ecosystems to natively interact with BUIDL.
These new blockchains open various decentralized applications that have used BUIDL for flexible custody, near real-time P2P transfers, and distribution on-chain yield and dividends to end-users.
By doing this, BlackRock increases the utility of BUIDL by making it more available to DAOs and native digital asset companies. It also provides developers with an opportunity to build on the BlackRock fund in their ecosystem of choice.
Since its launch, the BlackRock BUIDL fund has rapidly become the largest tokenized fund by AUM, accomplishing this in less than 40 days.
The BlackRock initiative will also usher in any future collaboration. The company is already engaged in active talks with leading global crypto exchanges, including Binance, OKX, and Deribit.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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