BlackRock’s BUIDL, the asset management giant’s first tokenized fund issued on a public blockchain, is expanding its reach beyond Ethereum. On-chain data reveals that Securitize, BlackRock’s partner in this venture, has deployed BUIDL on the Avalanche blockchain.
Here you can see the contract adress of the reported development and below you can see the screenshot.
BUIDL, which stands for BlackRock USD Institutional Digital Liquidity Fund, was initially launched on the Ethereum network, offering qualified investors access to US dollar yields. The fund allows investors to subscribe through Securitize Markets, LLC.
Robert Mitchnick, BlackRock’s Head of Digital Assets, previously stated that BUIDL represents a key step in their digital asset strategy, focusing on solutions that address client needs. The tokenization of the fund offers several advantages, including streamlined issuance and trading of ownership on a blockchain, broader investor access, instant and transparent settlement, and cross-platform transfers.
Securitize CEO Carlos Domingo emphasized the transformative potential of tokenization for capital markets, highlighting how it makes traditional financial products more accessible. Securitize serves as BlackRock’s transfer agent, tokenization platform, and placement agent for BUIDL.
The fund aims to maintain a stable value of $1 per token and distributes daily accrued dividends directly to investors’ wallets as new tokens each month. BUIDL invests exclusively in cash, US Treasury bills, and repurchase agreements, allowing investors to earn yield while holding the token on the blockchain. Investors can transfer tokens 24/7 to other pre-approved investors and have flexible custody options.
