BlackRock’s $2.5 Billion BUIDL Fund Expands to BNB Chain

BlackRock’s tokenized money market fund, BUIDL, has extended its operations to the BNB Chain blockchain ecosystem.

Issued by the Securitize platform, the product is a leader in the RWA segment by capitalization, with a figure of ~$2.5 billion. BUIDL holds funds in US dollars, short-term treasury bills, and REPO agreements.
Debuting on Ethereum, the fund also operates in first-layer networks such as Aptos, Avalanche, Solana, and L2 solutions like Arbitrum, Polygon, and Optimism. The integration with BNB Chain will allow BUIDL investors to utilize the asset in DeFi applications within the ecosystem and enhance its operational cross-chain compatibility.
Simultaneously, BUIDL can serve as off-exchange collateral for trading on Binance. The ability to place tokens with a custodial partner outside the platform will provide institutional traders with greater flexibility in utilizing yield-bearing assets, according to the companies.

“By using BUIDL as collateral in the leading digital market infrastructure, we are helping to integrate fundamental elements of TradFi into the on-chain finance sphere,” emphasized Robbie Mitchnick, Head of Digital Assets at BlackRock.

Analysts at Standard Chartered estimate that by 2028, the total market value of tokenized real-world assets, excluding stablecoins, will grow to $2 trillion. According to RWA.xyz, the current figure is about $36 billion. The capitalization of “stablecoins” exceeded $300 billion about two months ago surpassed $300 billion.