Blackrock Launches BUIDL on Five New Blockchains

Blackrock’s BUIDL, the largest tokenized Treasury fund by market capitalization, is now available on five new networks.

Securitize, BUIDL’s securities issuer, announced that the Blackrock USD Institutional Digital Liquidity Fund (BUIDL) is expanding to the Aptos, Arbitrum, Avalanche, Optimism, and Polygon blockchains. The expansion will also be supported by Ondo, which provides instant withdrawals and settlements for the fund.

Carlos Domingo, the CEO and co-founder of Securitize, said, “We wanted to develop an ecosystem that was thoughtfully designed to be digital and take advantage of the advantages of tokenization.”

BUIDL, launched in March, has amassed a $544 million market capitalization, 15% higher than its closest competitor, USDY, which touts a $451 million market capitalization.

As the real-world asset (RWA) market expands, Blackrock is also looking to develop improved use cases for BUIDL. On October 18, it was reported that Blackrock was in discussions with exchanges such as Binance about using BUIDL as collateral for futures trading.