Categories: News

BlackRock BUIDL Fund Expanded to New Blockchains to Boost Accessibility

Key Points:

  • BlackRock BUIDL funds have been expanded to Arbitrum, Aptos, Avalanche, Optimism, and Polygon.
  • The expansion allows users to interact with BUIDL across multiple blockchains, offering flexible custody, peer-to-peer transfers, and on-chain yield and dividend distribution.
  • BlackRock is also in talks with major crypto exchanges, including Binance, OKX, and Deribit, to explore further use cases for the BUIDL fund.
BlackRock has added Arbitrum, Aptos, Avalanche, Optimism, and Polygon to its BUIDL fund, expanding the type of tokenized investment product on offer.

Read more: BlackRock Warns Markets Ignore Election Chaos Ahead

BlackRock BUIDL Fund Expands to New Blockchains

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.

BlackRock Outlines Future Use Cases with Crypto Exchanges

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.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

A Missed Moment with Cardano? Here’s Why Qubetics at $0.0212 Could Be Your Perfect Timing – Explore the Best Crypto to Join Now

If you’ve been regretting missing out on Cardano, Qubetics ($TICS) might just be the ticket…

27 minutes ago

Shiba Inu Price Clears Path To New ATH Of $2 As WallitIQ (WLTQ) Takes The Lead With A 23,000% Surge

The Shiba Inu price is on track to reach a new ATH of $2, while…

27 minutes ago

Best Crypto Presales to Watch This November: Get in Early on These Potential Breakout Coins

So, you’re on the lookout for the next big thing in crypto? Aren’t we all?…

4 hours ago

Robinhood Crypto Now Supports Solana Trading Again

Robinhood Crypto has expanded its U.S. platform with the addition of Solana, Pepe, Cardano, and…

9 hours ago

Missed Out on Chainlink Early Gains? This Layer-1 Project is Set to Explode to $15 After Mainnet Launch

If you’ve been following the crypto space, you already know that Chainlink (LINK) has been…

9 hours ago

This website uses cookies.