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BREAKING: BlackRock’s Cryptocurrency Fund to Launch on Surprise Altcoin Network
BREAKING: BlackRock’s Cryptocurrency Fund to Launch on Surprise Altcoin Network
Author:
Mete Demiralp
04.11.2024 – 20:33
Update:
1 second ago
0
According to the latest information, BlackRock’s BUIDL fund, which was previously deployed on the Ethereum network, will also be deployed on Avalanche (AVAX).
According to the latest onchain data, digital platform Securitize, which manages the fund, has started operating BlackRock’s yield-generating BUIDL fund on the Avalanche blockchain.
Initially launched on Ethereum, BUIDL was launched to provide US dollar returns to qualified investors through a blockchain-based subscription provided by Securitize Markets, LLC.
In essence, BUIDL allows investors to hold a fixed value token worth $1 and have daily accrued dividends paid directly to investors’ wallets.
The fund maintains its liquidity by investing in cash, U.S. Treasury bonds, and repurchase agreements. By tokenizing the fund, BlackRock aims to expand investor access, enable transparent reconciliations, and facilitate seamless transfers between platforms.
*This is not investment advice.
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