BlackRock’s tokenized money market fund, the USD Institutional Digital Liquidity Fund (BUIDL), now operates on the Solana blockchain after making strong development. The fund leads as U.S. Treasuries tokenization provider with capitalization nearing $2 billion.
Carlos Domingo of Securitize announced Solana integration into the BUIDL ecosystem because the fund continues to expand into different blockchain platforms. From March 2024 BUIDL starts its test flight with Securitize to bring modern financial asset management to real-world assets through tokenization.
BUIDL Expands Multi-Chain Strategy to Solana
According to Securitize’s Michael Sonnenshein they want to transform strong offchain assets into interesting financial instruments that fix typical money market problems. RWA platform rwa.xyz shows BUIDL leads within the tokenized US Treasury sector with a $1.7 billion market value taking up 34% of total industry investment.
BUIDL leads the US Treasurys sector by gaining more market share than Hashnote, Franklin Templeton, and Ondo USDY. Since July 2024 BUIDL has shown a significant increase in value by 240% after its market capitalization reached $500 million in that month.
Every day BUIDL receives dividends from US dollar investments which are paid to investors each month through its Securitize partnership. Through the month of August 2024 the fund passed out $7 million dividends to its shareholders.
The BUIDL fund implemented its multi-chain strategy in November 2024 to expand into Solana after previously introducing it to Aptos, Arbitrum, Avalanche, Optimism, and Polygon. They want to reach more investors by combining blockchain technology with its specific system benefits.
Although other blockchain systems now hold tokenized Treasurys Ethereum still leads the overall market sector. According to RWA.xyz statistics Ethereum tokenized treasuries have $3.6 billion worth of market value which makes up 72% of the total market share.
Securitize’s and BlackRock’s latest addition to Solana builds tokenization’s path toward transforming the future of finance according to modern standards. People across sectors are anticipating BUIDL’s future actions due to its rising market value nearing $2 billion.