$11.6 trillion asset manager BlackRock announced that it is expanding its tokenized money market fund, the BlackRock USD Institutional Digital Fund (BUIDL), to the Solana blockchain in partnership with Securitize, a leading tokenization platform.
BlackRock BUIDL-Solana Integration
BUIDL launched in March 2024 as BlackRock’s first tokenized fund issued on public blockchains. It combines traditional money market instruments—cash and U.S. Treasury bills—with blockchain technology to enable qualified investors to access U.S. dollar yields on-chain.
It also offers a modern alternative to traditional money market funds, with features like daily dividend payouts, flexible custody options, and 24/7 peer-to-peer transfers.
Since its inception, BUIDL has achieved notable success, accumulating $1.7 billion in assets under management (AUM) across several blockchains, including Ethereum, Arbitrum, Avalanche, Optimism, Aptos, and Polygon. Adding Solana as its seventh blockchain further extends its reach and influence.
Solana’s low-cost, high-speed infrastructure makes it an ideal solution. It enables it to handle thousands of transactions per second at minimal fees, ensuring that institutional-grade financial products can operate efficiently on-chain.
Moreover, the blockchain’s expanding ecosystem for tokenized U.S. Treasuries is now valued at $69.2 million. BlackRock’s inclusion of Solana will improve accessibility and liquidity for its investors.
Securitize played a crucial role in BUIDL’s growth and development, guaranteeing regulatory compliance and smooth cross-chain transfers.
BUIDL’s Competitive Advantage
BUIDL distinguishes itself from traditional competitors through four key characteristics: 24/7 access, daily dividend payments, enhanced liquidity, and regulatory compliance. These features make BUIDL highly appealing to crypto traders looking for yield-generating substitutes for stablecoins like USDT and USDC.
BlackRock’s decision to expand its blockchain-based money market fund to Solana in partnership with Securitize enhances accessibility and liquidity for institutional investors and establishes a new benchmark for tokenized financial products.
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