BlackRock Offers its First Tokenized Fund on the Ethereum Network

Global asset management giant BlackRock is bringing together the worlds of finance and cryptocurrencies by launching its first tokenized fund on the Ethereum network. The BlackRock USD Corporate Liquid Fund (BUIDL), is backed by cash, US Treasury bonds, and repo agreements, promising transparency and efficiency to institutional investors. Integration of Finance and Crypto Sectors The launch of the BUIDL fund reflects BlackRock’s strategy of uniting traditional finance and cryptocurrency ecosystems. The fund aims to facilitate traditional investors to adopt in-chain funds by reducing friction. The BUIDL fund is represented by the Blockchain-based BUIDL token and has a wide partnership including major financial institutions such as Securitize, BNY Mellon, as well as crypto companies such as Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks. The fund’s launch is seen as a test case that will allow institutional investors to take advantage of real-time settlement benefits and is expected to provide a […]

BlackRock Offers its First Tokenized Fund on the Ethereum Network

Global asset management giant BlackRock is bringing together the worlds of finance and cryptocurrencies by launching its first tokenized fund on the Ethereum network. The BlackRock USD Corporate Liquid Fund (BUIDL), is backed by cash, US Treasury bonds, and repo agreements, promising transparency and efficiency to institutional investors.

Integration of Finance and Crypto Sectors

The launch of the BUIDL fund reflects BlackRock’s strategy of uniting traditional finance and cryptocurrency ecosystems. The fund aims to facilitate traditional investors to adopt in-chain funds by reducing friction.

The BUIDL fund is represented by the Blockchain-based BUIDL token and has a wide partnership including major financial institutions such as Securitize, BNY Mellon, as well as crypto companies such as Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks.

The fund’s launch is seen as a test case that will allow institutional investors to take advantage of real-time settlement benefits and is expected to provide a test case for capital efficiency, transparency, and low costs.

Preference for the Ethereum Blockchain

BlackRock’s choice of Ethereum over private Blockchain enables the seamless integration of tokenized funds with stablecoins, providing programmability and a wide design space. Using Ethereum as a public Blockchain suggests a new growth area for asset management companies.

Bernstein’s report forecasts that, with the development of the cryptocurrency world, crypto asset management could evolve towards a variety of products beyond traditional investment funds.

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