BlackRock, the global investment giant, recently introduced its latest innovation in the world of digital assets by launching the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), a stablecoin whose value is tied to the value of the dollar.
This BUIDL is available through Securitize Markets, LLC, a strategic move announced by Robert Mitchnick, BlackRock's Head of Digital Assets. BUIDL is designed to address client concerns by providing transparent and efficient on-chain solutions through blockchain technology.
What is BUIDL?
The BUIDL stablecoin is a product of BlackRock which is a tokenized digital liquidity fund, known as the BlackRock USD Institutional Digital Liquidity Fund. BUIDL is designed to provide a stable value of $1 per token and pay daily dividends accumulated directly to investors' digital wallets as new tokens every month.
The fund invests 100% of its total assets in cash, U.S. Treasury bonds, and buyback agreements, allowing investors to earn while holding tokens on the blockchain. Investors can transfer their tokens at any time, throughout the year, with flexible custody options.
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Use the Ethereum Blockchain
BUIDL, which will be managed by Securitize, requires a minimum investment of $100,000. The stablecoin is planned to be developed on the Ethereum blockchain using the ERC-20 token standard
Banks Are Responsible for Transfer and Tokenization
Administration of the fund is held by Black Rock Financial Management I.C., with Bank of New York Mellon acting as trustee. They are responsible for efficient transfer, tokenization, and distribution, with PricewaterhouseCoopers LLP as auditor ensuring compliance and transparency.
With an initial share value of $5 million (approximately Rp78,275,000,000), BUIDL attracted market attention with its Rule 506 and Section 3(7) trading rules. Joseph Chalom, managing director at Securitize, strengthens the team with his experience and leadership as a member of BlackRock's board of directors.
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Conclusion
The BUIDL stablecoin offers not only stability in value but also daily dividend payments, leveraging blockchain technology for greater transparency and accessibility.
Support from ecosystem partners such as BNY Mellon, Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks confirms BlackRock's commitment to innovation in the digital asset sector. With BUIDL, BlackRock is expanding its services, providing more flexible and inclusive investment solutions for institutional investors around the world.
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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
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Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Investors Enthusiastic About Bitcoin ETFs from BlackRock and Fidelity
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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