BlackRock Expands Tokenized Liquidity Fund to Multiple Blockchains

BlackRock's BUIDL fund is expanding its reach to multiple blockchains, including Aptos, Arbitrum, Avalanche, Optimism, and Polygon.

This expansion follows its initial launch on Ethereum and is in collaboration with Securitize. The move allows a wider range of digital asset-native firms, DAOs, and investors to interact with the tokenized fund through their preferred blockchain networks.

By integrating with these additional platforms, BUIDL offers enhanced access for developers and users, enabling a more seamless experience for those building in these ecosystems. The fund itself provides on-chain yield, real-time dividend accrual, and peer-to-peer transfers, all of which aim to increase the liquidity and efficiency of digital assets.

Securitize CEO Carlos Domingo highlighted that the tokenization of real-world assets is rapidly growing, and this expansion will accelerate the adoption and use of tokenized funds across diverse blockchain platforms.

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While BNY continues to serve as the fund’s administrator and custodian, the market for tokenized government securities is also experiencing growth. Franklin Templeton’s OnChain U.S. Government Money Fund, introduced in 2021, has set a precedent by using a public blockchain for transactions and share ownership.

However, BlackRock’s BUIDL quickly gained traction, becoming the leading fund in the tokenized government securities space. Launched in March, it reached $517 million in assets under management within 40 days, capturing 22% of the $2.3 billion market share.

Alexander Stefanov