BlackRock, the world's premier asset management entity, has announced the expansion of its tokenized real-world asset fund to five new blockchains, enhancing the accessibility of its offerings.

The BUIDL fund, initially launched on Ethereum, is now available on Aptos, Arbitrum, Avalanche, Optimism's OP Mainnet, and Polygon. This move signifies its intent to dominate the blockchain-based money market, which now holds some $520 million in assets, primarily supported by short-term U.S. Treasuries.

Key Features of BUIDL:

• The BUIDL product, heavily focused on tokenization, aims to blend traditional finance and cryptocurrency.
• It seeks to facilitate quicker settlements with operational efficiencies, appealing to both digital and traditional financial investors.

Carlos Domingo, CEO and co-founder of Securitize, expressed enthusiasm for the new blockchain integrations: "We wanted to cultivate an ecosystem designed to harness the benefits of tokenization. With these new chains, we invite more investors to explore these technologies that have historically been challenging to implement."

BlackRock's strategy involves optimizing a product whose price remains anchored at $1, thus offering simple and effective utility for large financial institutions and decentralized finance protocols alike. Furthermore, it has been noted that the management fees vary between blockchain networks, making the fund a compelling investment option in the evolving digital landscape.