BlackRock’s Tokenized Money Market Fund BUIDL Expands to Solana

The expansion brings BUIDL to seven blockchains, including Ethereum, Polygon, Aptos, Arbitrum, and Optimism.

BUIDL Fund Expands to Seven Blockchains, Including Solana

BUIDL, the BlackRock USD Institutional Digital Liquidity Fund, combines short-term yield-bearing investments in cash and U.S. Treasuries with the enhanced settlement and transfer capabilities of blockchain. Since launching on Ethereum in 2023, the fund has garnered $1.7 billion in investments and is expected to exceed $2 billion by early April, according to Securitize. Despite its expansion, only 62 wallets currently hold BUIDL on-chain, according to data from rwa.zyz.

Demand for Tokenized Assets Drives Growth in Blockchain Finance

Carlos Domingo, co-founder and CEO of Securitize, expressed that the significant growth in demand for tokenized real-world assets (RWAs) has highlighted the value of bringing institutional-grade products to blockchain networks. Expanding BUIDL to Solana, known for its speed, scalability, and cost efficiency, is seen as a natural progression as the market for tokenized treasuries and RWAs continues to grow.

Blockchain Money Market Funds Offer 24/7 Access

Unlike traditional money market funds, which operate with limited trading hours, BUIDL’s blockchain version offers constant access to funds, allowing investors to earn interest on idle cash without time constraints. The continued expansion of tokenized financial products is reshaping how institutional investors interact with traditional assets.