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BlackRock's BUIDL Hits $160M in Debut Week, Ondo Dedicates $95M in Assets

RWA platform Ondo Finance announced it is transferring $95 million worth of assets into BlackRock's BUIDL, aiming for instantaneous settlements of its U.S. Treasury-backed token, OUSG.

  • BlackRock's BUIDL raised $160 million in its debut week, showcasing significant investor interest.
  • Ondo Finance commits $95 million from its tokenized U.S. Treasury bills ETF to BlackRock's BUIDL, marking a key collaboration in the securities tokenization space.

The world's largest asset manager, BlackRock launched the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund last week. According to a report by Bloomberg, the fund raised $160 million in its first week

Subsequently, tokenized real-world asset (RWA) platform Ondo Finance announced in a blog post its decision to dedicate "a significant portion" of its tokenized short-term U.S. Treasury bills ETF, OUSG, to BUIDL.

Ondo is transferring $95 million worth of assets into BlackRock's BUIDL, aiming for instantaneous settlements of its U.S. Treasury-backed token, OUSG, shared Nathan Allman, CEO of Ondo Finance, in a Wednesday Telegram interview with CoinDesk.

“We’re excited to see BlackRock embracing securities tokenization with the launch of BUIDL, especially its broad cooperation with ecosystem participants,” reads Ondo’s blog post. “Not only does this further validate our original concept of a tokenized US Treasury fund, but it also bolsters our thesis that tokenization of traditional securities on public blockchains represents the next major step in the evolution of financial markets.”

The $10 trillion asset manager's first tokenized investment fund, BUIDL, provides investors with the opportunity to earn U.S. dollar yields through investments in cash, U.S. Treasury bills, and repurchase agreements.

With an initial investment requirement of $5 million, investors can purchase tokens at a stable price of $1 per token and earn interest in the form of extra tokens.


Edited by Harshajit Sarmah

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