Summary

BlackRock’s BUIDL token, issued in partnership with Securitize and supported by U.S. Treasuries, has exceeded $1 billion in assets, thanks to a recent $200 million allocation from the crypto protocol Ethena.

Key Points:

• BUIDL functions as a key reserve asset for various yield-generating offerings and is extensively utilized as collateral on trading platforms.
• Ethena’s USDtb token, supported by USDC and USDT stablecoins alongside BUIDL tokens, now boasts a $540 million supply, demonstrating substantial confidence in tokenized assets.

Global asset manager BlackRock reported that its BUIDL token surpassed the $1 billion mark following a noteworthy $200 million investment from Ethena, confirming the fund’s growing prominence in the digital asset sphere. Data from the Ethereum blockchain indicates this significant minting of BUIDL tokens occurred at 18:47 UTC on the same day.

Tokenization efforts, particularly those involving U.S. Treasuries, are escalating as financial institutions strive to incorporate traditional instruments on blockchain platforms, enhancing efficiency in settlement processes. BUIDL also plays a critical role in the generation of several yield-based offerings and increasingly serves as a collateral asset.

“Ethena’s decision to elevate USDtb’s investment in BUIDL underscores our firm belief in the value of tokenized assets and their vital role in modern financial structures,” stated Guy Young, Founder of Ethena.