According to Cointelegraph, more than $1 billion worth of United States Treasurys will be now available across Ethereum, Polygon and Solana, among others. This is expected to come amidst the launch of the BlackRock USD Institutional Digital Liquidity Fund.
It is believed that the $79.3 million deposit to BlackRock’s fund was made by Ondo Finance, a real-world asset tokenisation firm, which will allow instant settlements for OUSG, a US Treasury-backed token, added Cointelegraph.
Ondo Finance is now expected to own a 38% share in BUIDL, Tom Wan, a research strategist at 21.co tweeted on March 27, 2024.
It is believed that BUIDL’s price is pegged 1:1 with the United States dollar and pays dividends directly to investors each month. Furthermore, it is expected to be launched on Ethereum through the Securitise protocol, concluded Cointelegraph.
(With insights from Cointelegraph)
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