Ethereum Network Attracts BlackRock for Asset Tokenization

IndustryTrends

BlackRock launches its tokenized asset fund, the BlackRock USD Institutional Digital Liquidity Fund, on the Ethereum network, represented by the BUIDL token.

The fund is fully backed by cash, U.S. Treasury bills, and repurchase agreements, providing daily yield payouts to token holders via blockchain rails.

Securitize acts as the transfer agent and tokenization platform, while BNY Mellon serves as the custodian of the fund's assets, with strategic investments from BlackRock.

Robert Mitchnick, BlackRock’s Head of Digital Assets, underscores the company's commitment to developing digital asset solutions, marking the latest progression in their digital assets strategy.

 BlackRock joins other traditional finance giants like Citi, Franklin Templeton, and JPMorgan in embracing tokenization trends, reflecting the growing intersection between blockchain technology and traditional finance.

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