Bittime - More than $1 billion in United States government bonds have been converted into digital tokens and stored on various blockchains, including Ethereum, Polygon, and Solana.
This achievement was driven by the recent launch of the BlackRock USD Institutional Digital Liquidity Fund, which allows institutional investors to invest in US Treasuries via blockchain.
The Beginning of BlackRock's BUIDL
BlackRock's Ethereum-based product, BUIDL, launched on March 20 and has attracted more than $244.8 million in investment.
BUIDL is now the second-largest product holding US Treasuries converted into digital tokens, behind Franklin Templeton's 11-month-old Franklin OnChain US Government Money Fund (FOBXX), which holds $360.2 million.
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BlackRock BUIDL Fund News
In total, $1.08 billion in US Treasuries was converted into digital tokens and held in 17 different products.
Ondo Finance, a real-world asset tokenization company, recently deposited $95 million into BlackRock's BUIDL fund to facilitate instant settlement for its US Treasury-backed token, OUSG.
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BUIDL value
- BUIDL is pegged at 1:1 to the United States dollar.
- BUIDL distributes accrued dividends to investors every month.
- According to the Dune 21.co dashboard, tokenized Treasuries offer more attractive returns than stablecoins, especially in the current high interest rate environment.
RWA Tokenization Surge
- The US Treasury is pioneering tokenization, providing a low-risk option for investors to store cash on-chain and earn stable returns in the blockchain ecosystem.
- The RWA tokenization market has grown rapidly in the past year, from $100 million in early 2023 to its current value.
- In addition to US Treasuries, other assets such as stocks and real estate can also undergo tokenization.
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Potential and Domination
- BlackRock CEO Larry Fink sees blockchain tokenization as a means to increase the efficiency of capital markets, with a projected market worth $16 trillion by 2030.
- Ethereum leads in RWA tokenization, with $700 million of total value tokenized on-chain.
- Franklin Templeton's FOBXX, tokenized on Stellar and Polygon, came in second with $358 million, followed by Polygon with $13 million.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor 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.
Also read:
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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