In a Fortune report, Securitize chief operating officer Michael Sonnenshein said the fund aims to make offchain assets “unboring.” The executive said they are advancing some of the deficiencies of money markets in their traditional formats. BlackRock’s BUIDL at $1.7 billion market capRWA data platform rwa.xyz shows that BlackRock and Securitize’s BUIDL leads the Tokenized United States Treasurys in market capitalization.
As of August 2024, the fund had paid its holders $7 million in dividends. Related: Frax community approves frxUSD stablecoin backed by BlackRock's BUIDLBUIDL’s Solana expansion comes over 1 year since launchThe tokenized product’s expansion into the Solana ecosystem comes months after the product started to go multichain.On Nov.13, the tokenized money market fund, which was initially launched on the Ethereum network, expanded to Aptos, Arbitrum, Avalanche, Optimism and Polygon.
The platform’s data shows that the fund has a market capitalization of $1.7 billion and a nearly 34% market share. BlackRock's BUIDL reached a $1.7 billion market cap.Source: RWA.xyzBUIDL dominates the Tokenized US Treasurys list as the leading asset in its class.
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Author / Journalist: Cointelegraph by Ezra Reguerra
The story "BlackRock’s BUIDL expands to Solana as tokenized money market fund nears $2B" has 380 words across 21 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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