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BlackRock Brings Tokenized Money Market Fund 'BUIDL' To Solana

BlackRock, the world's largest asset manager, is adding its blockchain-based money market fund, BUIDL, to the Solana blockchain, as confirmed by Securitize on Tuesday.
This move is part of a broader trend of tokenization in the financial sector, where real-world assets are placed on blockchains to increase accessibility, transparency, and liquidity, and it aligns with BlackRock's commitment to embracing blockchain technology.
BUIDL, which was originally introduced on Ethereum in 2023 as the BlackRock USD Institutional Digital Liquidity Fund and combines a short-term yield-bearing portfolio of cash and U.S. Treasuries with blockchain capabilities, is now accessible on seven blockchains.
Larry Fink, BlackRock's CEO, emphasized that "ETFs are step one in the technological revolution in the financial markets," hinting at tokenization as the next phase, while Securitize COO Michael Sonnenshein stated they are making money market funds "unboring" by advancing beyond traditional formats.
As of Tuesday, BUIDL held approximately $1.7 billion in assets and is projected to exceed $2 billion by early April, signaling growing institutional confidence in crypto and offering investors a more secure, yield-generating alternative to traditional stablecoins, although crypto assets are highly volatile and high-risk investments.

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