HomeEthereumOndo Finance adds $95 million to BlackRock’s BUIDL, bringing total AUM to...

Ondo Finance adds $95 million to BlackRock’s BUIDL, bringing total AUM to $240 million

-



Ondo Finance, a tokenized real-world asset company, announced plans to add $95 million of its own assets to a tokenized fund from BlackRock.

In a blog post on March 27, the company said it would move a “substantial portion” of the assets behind its OUSG token to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

That amount represents OUSG’s entire total value locked (TVL), according to the asset’s official overview. The same page suggests that some of the funds may also be held in BlackRock’s FedFund (TFDXX), the USDC stablecoin, and other investments.

The OUSG token provides liquid exposure to short-term US Treasuries. The company said that the latest developments “[validate its] original concept of a tokenized US Treasury fund” and demonstrate that the tokenization of traditional securities is a significant step forward for financial markets.

Reliance on BUILD is part of Ondo’s broader strategy to provide instant, 24/7 settlement and redemptions.

BUIDL has attracted $240 million

The latest news comes alongside a Bloomberg report indicating that BlackRock’s BUIDL attracted $240 million in its first week of operations.

Real-time data from Arkham Intel suggests that BUIDL’s Ethereum address has a balance above $100 million, primarily consisting of USDC that seeded the fund. Some of the balance — more than $141,000 — appears to come from crypto donations from the community rather than assets related to the fund.

BlackRock launched its BUIDL fund on the Ethereum blockchain on March 19, as indicated in a regulatory filing. A later public announcement on March 20 stated that the fund tokenizes assets in the form of the BUIDL token, which allows qualified investors to earn US dollar yields via a subscription with Securitize Markets.

The fund invests 100% of its assets in cash, US Treasury bills, and repurchase agreements. BlackRock called the fund the “first tokenized fund issued on a public blockchain.”

The post Ondo Finance adds $95 million to BlackRock’s BUIDL, bringing total AUM to $240 million appeared first on CryptoSlate.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Crypto market defies tech stock slump as Bitcoin breaks $66,000 amid Trump rumors

Bitcoin and the wider crypto market are rallying despite a downtrend in the equities markets, particularly in tech stocks, pointing to a breakdown in...

Can this FTSE 250 stock roar back to life next week?

Image source: Getty Images FTSE 250 stock Aston Martin Lagonda (LSE:AML)is due to...

21,000 Bitcoin Options Set to Expire Today, What’s Next for BTC Price?

Bitcoin options implied volatility has surged by 5% over the last week with traders on Binance opening short positions for bitcoin in anticipation of...

Here’s Why Dogecoin And Shiba Inu Price Surged

Dogecoin (DOGE) and Shiba Inu (SHIB) have witnessed notable price surges over these past few days. This price rally for the leading meme coins...

Most Popular