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BlackRock Announces BUIDL Expansion to Aptos, Arbitrum, Avalanche, Optimism and Polygon

Published

11 months ago

November 13, 2024

Asset administration titan BlackRock has introduced the growth of its personal BUIDL, the corporate’s on-chain cash market fund, throughout 5 new blockchains.

Based on one announcement by real-world asset tokenizing agency Securitize, BlackRock’s brokerage accomplice, BUIDL will increase to layer-1 blockchains Aptos (APT) and Avalanche (AVAX), in addition to layer-2 scaling options Arbitrum (ARB), Optimism (OP) and Polygon (POL) ).

As Carlos Domingo, CEO and co-founder of Securitize, says:

“We needed to develop an ecosystem that was fastidiously designed to be digital and reap the benefits of the advantages of tokenization.

The tokenization of real-world belongings is rising and we’re excited to see these blockchains added to extend the potential of the BUIDL ecosystem. With these new chains, we’ll see an increasing number of traders trying to leverage the underlying know-how to drive effectivity in all of the issues which were troublesome to do till now.”

BUIDL, which launched in March and stands for BlackRock USD Institutional Digital Liquidity Fund, is a tokenized cash market fund designed to supply a steady worth of $1 per token whereas offering US Treasury yields.

Based on Securitize, the growth will assist builders, decentralized autonomous organizations (DAOs) and different crypto firms construct on the blockchain of their selection with BlackRock’s product.

Final month, it was reported that BlackRock was in talks with quite a few crypto trade platforms – equivalent to Binance, OKX and Deribit – about utilizing BUIDL as collateral for derivatives contracts.

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