BlackRock's Fund Exceeds the 1 Billion Threshold with Altcoin's Support, also Partnered with Trump! - Coin Bulletin

Issued in partnership with BlackRock and Securitize, the BUIDL token based on U.S. treasury bonds surpassed $1 billion in size with an additional $200 million investment from the Ethena protocol.

Global asset management giant BlackRock has passed a significant milestone in the B**UIDL token, launched in partnership with digital asset company Securitize. The token, backed by US Treasury bonds and issued on the Ethereum network in March 2024, has surpassed the $1 billion mark in total managed assets as of Thursday. The recent $200 million investment in the crypto protocol Ethena played a major role in reaching this critical level.

BUIDL, one of the key reserve assets of the USDtb token used by Ethena and providing interest income to investors, constitutes $320 million of the total $540 million USDtb supply. The remaining portion of USDtb is backed by popular stablecoins USDC and USDT.

Traditional finance is tokenizing

This groundbreaking development in the tokenization field has strengthened the trend of traditional financial instruments digitizing with blockchain technology. Considering that the total size of the tokenized treasury bond market is approximately $4.2 billion, it becomes evident how powerful of a player BUIDL, exceeding $1 billion alone, is in this area.

The BUIDL token implemented by BlackRock with Securitize is also traded on various blockchain networks such as Avalanche, Arbitrum, Polygon, Aptos, and Optimism. In addition, the token is increasingly being used as collateral in the decentralized finance (DeFi) ecosystem.

Ethena's founder Guy Young emphasized in his statement that with this significant investment in BUIDL, they demonstrated their strong belief in the role of tokenized assets in the financial system. Securitize CEO Carlos Domingo also stated, "The success of BUIDL is proof that tokenized securities are now a tangible and lasting innovation."