The total amount of assets under management of the BlackRock USD Institutional Digital Liquidity (BUIDL) tokenized fund has crossed the $500 million milestone.
Data: RWA.xyz.BUIDL is backed by U.S. Treasury bills, REPO agreements and fiat currency. The number of holders of the fund's security tokens has reached 17.
Securitize acts as a tokenization platform, as well as a transfer and listing agent. Anchorage, Coinbase, BitGo and Fireblocks joined the initiative as partners in the blockchain ecosystem. BNY Mellon Bank promotes compatibility with traditional markets.
"We are very pleased with the adoption and growth we are seeing as we continue to promote BUDL as a fundamental level of institutional income from cryptocurrency," said Securitize CEO Carlos Domingo.The corresponding indicator of the competitor — Franklin OnChain U.S. Government Money Fund (FOBXX) — is ~ $400 million. The volume of assets at the disposal of the USD Yield fund (USDY) from Ondo Finance is ~$281 million.
Recall that McKinsey analysts estimated the capacity of the asset tokenization market at $1.9 trillion by 2030. In a more optimistic scenario, this value may be twice as high.