Ondo Finance added $95 million to BlackRock’s BUIDL, bringing total AUM to $240 million.
Tokenized real asset company Ondo Finance announced plans to add $95 million of its own assets to BlackRock’s tokenized fund.
In a March 27 blog post, the company said it would transfer a “significant portion” of the assets behind its OUSG tokens to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
According to the official overview of the assets, this amount represents the total total value locked (TVL) of OUSG. The same page suggests that some of the funds may also be held in BlackRock’s FedFund (TFDXX), USDC stablecoin, and other investments.
OUSG tokens provide liquid exposure to short-term US Treasury bonds. The company said the latest development “validates the original concept of a tokenized U.S. Treasury fund” and demonstrates that the tokenization of traditional securities is a significant step forward in financial markets.
Reliance on BUILD is part of Ondo’s broader strategy to provide instant, 24/7 payments and repayments.
BUIDL raised $240 million.
The latest news comes with a Bloomberg report that BlackRock’s BUIDL raised $240 million in its first week of operations.
Real-time data from Arkham Intel shows that BUIDL’s Ethereum address has a balance of over $100 million, consisting primarily of USDC seeded funds. Some balances — or more $141,000 — It appears to have come from cryptocurrency donations from the community rather than assets associated with the fund.
BlackRock launched the BUIDL fund on the Ethereum blockchain on March 19, as specified in a regulatory filing. Following a public announcement on March 20, the fund tokenizes its assets in the form of BUIDL tokens, which will allow eligible investors to earn US dollar returns through a subscription to Securitize Markets.
The fund invests 100% of its assets in cash, U.S. Treasury securities, and repurchase agreements. BlackRock called the fund “the first tokenized fund issued on a public blockchain.”
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