BlackRock Launches $1B BUIDL Fund on Aptos, Arbitrum, Avalanche, Optimism, Polygon

Nov 13, 2024, 02:01 PM

BlackRock, the world's largest asset manager, has launched its flagship tokenized treasury fund, BUIDL, on multiple blockchain networks. The expansion includes Aptos, Arbitrum, Avalanche, Optimism's OP Mainnet, and Polygon. This move signifies a major step in the integration of traditional finance with blockchain technology, following BlackRock's $1 billion investment in tokenized treasuries with plans to scale to $10 billion. Securitize, a tokenization platform, facilitated the launch, and CopperHQ has begun offering custody services for these tokenized funds, which can be used as collateral for derivatives trades after receiving regulatory approvals in Abu Dhabi.