BlackRock BUIDL achieves seamless conversion between USD and USDC through Zero Hash

BlackRock, one of the world's largest asset management companies, launched the tokenized fund BUIDL on the Ethereum blockchain in March. The fund enables issuance and trading of fund ownership on the blockchain, expands investor access to on-chain products, provides real-time and transparent settlement, and allows for cross-platform transfers. As of October 15th, the asset under management has reached $550 million.

BUIDL Realizes Conversion between USD and USDC

BUIDL is a currency-type fund that invests 100% of its total assets in cash, U.S. government bonds, and repurchase agreements, aiming to provide a stable value of 1 USD per token and distribute daily accrued dividends as new tokens directly to investors' wallets each month. This allows investors to earn profits while holding tokens on the blockchain. Investors can transfer their tokens to other pre-approved investors 24/7/365.

Now, eligible investors can conveniently invest in BUIDL by directly converting USDC stablecoins and USD through the integration between tokenization company Securitize and crypto services infrastructure platform Zero Hash.

Zero Hash LLC is a registered money services business with FinCen and a regulated money transfer institution operating in all 51 U.S. jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed by the New York State Department of Financial Services to engage in virtual currency business activities.

BUIDL Assets Reach $550 Million

According to Dune dashboard by 21Shares, BlackRock's first tokenized fund, BUIDL, surpassed Franklin Templeton's BENJI, which had been launched for a year, in less than six weeks. The total assets under management of tokenized government bonds now amount to $21.54 billion, with BUIDL leading at $5.5 billion, Franklin Templeton's BENJI at $4.2 billion, and Ondo Finance's USDY and OUSG being tokenized products pegged to BUIDL, illustrating BlackRock's leading position in the RWA market.