Ondo price surges 5% as Ondo Finance tests instant USDC redemption from BlackRock (BLK) BUIDL fund

The BlackRock USD Institutional Digital Liquidity Fund, created with tokenization company Securitize, holds cash, U.S. Treasury bonds and repurchase agreements. Investments in the fund are represented by the Ethereum-based BUIDL token, which provides returns paid out daily to token holders via blockchain rails.