BlackRock strengthens its cryptocurrency initiatives by launching the BUIDL fund on the Solana blockchain, aiming to expand its strategy on new platforms.
Revolutionizing Money Markets
BUIDL introduces BlackRock's USD Institutional Digital Liquidity Fund, transforming traditional money market funds with Solana's fast and cost-effective infrastructure. Solana's transaction speed allows BUIDL to reach users on seven blockchains, starting from Ethereum to Polygon and Aptos. The fund raised $1.7 billion in cash and U.S. Treasuries, aiming to reach $2 billion by April.
Driving Tokenization's Mainstream Adoption
BlackRock's expanding footprint shows the rising appeal of tokenization, turning off-chain assets into digital copies for increased efficiency and transparency. The World Economic Forum projects tokenization to create over $100 billion in new capital opportunities for financial institutions annually, underscoring Solana's integration through BUIDL as BlackRock solidifies its leadership position.
A Vision for On-Chain Finance
CEO Larry Fink stated that tokenization is the next step in financial markets after the ETF success. The BUIDL launch on Solana enables BlackRock to manage crypto volatility, establishing it as a leader in decentralized finance.
The BUIDL fund launch on Solana opens new opportunities for improved liquidity and tokenization for BlackRock investors, highlighting its leading role in decentralized finance.
