BlackRock’s BUIDL Fund Launches on BNB Chain
BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has expanded to the BNB Chain. This move was announced on Friday by tokenization platform Securitize. It will increase access to the fund for onchain users while keeping its regulated structure.
The launch uses technology from Securitize and cross-chain protocol Wormhole. BNB Chain is known for low-cost, secure, and scalable financial apps. Sarah Wong, Head of Business Development at BNB Chain, said they are excited to add BUIDL to their ecosystem.
BUIDL Accepted as Collateral on Binance
In a related update, Binance and Securitize said BUIDL shares can now be used as off-exchange collateral for trading on Binance. Qualified institutional clients can secure trading positions using BUIDL without holding assets on Binance.
Robbie Mitchnick, Global Head of Digital Assets at BlackRock, said this helps bring traditional finance tools into the onchain world.
Background and Market Impact
- BUIDL is BlackRock’s first tokenized fund on public blockchains and launched with Securitize in 2024.
- The fund offers qualified investors exposure to US Dollar yields.
- BUIDL’s market cap reached $2.3 billion, according to rwa.xyz.
- It is already available on Arbitrum, Aptos, Avalanche, Ethereum, Optimism, Polygon, and Solana.
- BNB price rose nearly 1% after the announcement amid a wider crypto market drop.
