Securitize Integrates Zero Hash to Allow Qualified Investors to Easily Subscribe to BlackRock's Tokenized Fund
- Barbara StreisandOriginal
- 2024-10-16 04:22:10903browse
Securitize, the platform for tokenizing real-world assets, has integrated Zero Hash to allow qualified investors to easily subscribe to BlackRock's tokenized fund
Securitize, a platform for tokenizing real-world assets, has integrated Zero Hash to enable qualified investors to easily subscribe to BlackRock's tokenized fund using the USDC stablecoin.
In an announcement on Friday, Securitize said its partnership with the stablecoin infrastructure platform will allow institutional investors to buy the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) using USDC (USDC). However, users' coins will be converted to U.S. dollars via Zero Hash.
Carlos Domingo, co-founder and chief executive officer of Securitize, stated in the press release that the company's introduction of the new feature follows growing demand from clients.
“This capability is in response to increasing demand from our clients to provide greater optionality in their investment strategies,” Domingo said. “The integration with Zero Hash enables efficient transactions natively on-chain, allowing investors to seamlessly access BlackRock’s tokenized fund.”
BlackRock's tokenized fund dominates
BUIDL is BlackRock's first tokenized fund, which launched in March 2024 on the Ethereum (ETH) blockchain. At the time of writing, the fund is leading the way in the real-world assets market with a total value of over $550 million in assets under management.
With the fund, investors can gain exposure to U.S. Treasury bills, cash, and repurchase agreements in an on-chain asset that maintains a $1 per token value. Investors also receive daily accrued dividends, which are sent to their wallets on a monthly basis.
According to rwa.xyz, the total value of real-world assets on-chain currently stands at over $12.8 billion. Of this, more than $2.2 billion is in tokenized treasuries, with $1.6 billion on Ethereum.
BlackRock's BUIDL leads the way with a market cap of over $550 million, while the Ondo U.S. Dollar Yield and the Franklin Onchain U.S. Government Money Fund are the next two largest, with over $441 million and $437 million respectively.
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