BlackRock launches BUIDL, the first tokenized asset fund on the Ethereum network

BlockBeats news, on March 21, according to businesswire reports, BlackRock launched its first tokenized fund issued on a public blockchain on Wednesday - the BlackRock USD Institutional Digital Liquidity Fund (initial letter Abbreviation BUIDL). BUIDL will subscribe to the Fund through Securitize Markets, LLC, providing accredited investors the opportunity to earn U.S. dollar income. Tokenization remains a focus of BlackRock’s digital asset strategy. Through the tokenization of funds, BUIDL will bring significant benefits to investors by enabling the issuance and trading of ownership rights on the blockchain, expanding investor access to on-chain products, providing instant and transparent settlement, and allowing cross-platform transfers. the benefits of. BNY Mellon will enable interoperability between digital and traditional markets for the fund. BUIDL is a stable asset pegged to the U.S. dollar, and BlackRock pays out daily accrued dividends as new tokens directly into investors’ wallets. The fund invests 100% of total assets in cash, U.S. Treasuries, and repurchase agreements, allowing investors to earn income while holding tokens on the blockchain.