The BlackRock BUIDL fund has been expanded to new blockchains, enhancing the accessibility of tokenized investment products.
BUIDL Fund Launch and Expansion
Launched on Ethereum in March 2024, the BlackRock BUIDL fund functions as a tokenized money-market fund. Recently, it has expanded with the inclusion of new blockchains such as Arbitrum, Aptos, Avalanche, Optimism, and Polygon, marking a significant step in the maturation of the tokenization market.
Benefits of New Blockchains
With these new blockchains, users can interact with BUIDL using flexible custody, near real-time P2P transfers, and on-chain yield and dividend distribution. This opens up opportunities for engagement with decentralized applications and increases BUIDL's availability to DAOs and digital asset companies.
BlackRock's Partnership Plans
BlackRock is actively engaging in talks with leading crypto exchanges like Binance, OKX, and Deribit to explore new use cases for the BUIDL fund. This could foster further interaction with the crypto ecosystem.
The expansion of the BlackRock BUIDL fund to new blockchains significantly enhances its accessibility and functionality, providing new opportunities for users and developers.
