ONDOUSD on TradingView.com<\/a><\/figcaption><\/figure>\nAt the time of writing, the native token of Ondo Finance, ONDO, is trading at $0.909, exhibiting a surge of over 4% within the past 24 hours. This positive momentum adds to its impressive price uptrend of 115% recorded over the past 30 days.\u00a0<\/span><\/p>\nFeatured image from Shutterstock, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"BlackRock, one of the largest asset managers globally, has witnessed notable success with its newly launched tokenized money-market fund, BUIDL. The fund, which records shared ownership on the Ethereum (ETH) blockchain, has attracted over $160 million in just one week since its debut.\u00a0 BlackRock’s BUIDL Fund According to a Bloomberg report, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) primarily invests in cash, US Treasury bills, and repurchase agreements. The fund rewards its holders with a cryptocurrency, BUIDL, valued at $1 per token.\u00a0 Shareholders can transfer these tokens to other validated addresses using digital wallets approved by Securitize, BlackRock’s partner for the investment vehicle. The tokenized fund serves several key use cases, including treasury management for crypto companies, support for derivatives of Treasury bills, and acting as collateral for borrowing and trading, thus providing an alternative to stablecoins. Related Reading: Bitcoin \u201cLiquid Inventory Ratio\u201d Hits All-Time Low, What It Means It is worth noting that Securitize Markets, an SEC-registered alternative trading system, plays a critical role in facilitating the transfer of tokens between market participants.\u00a0 While the SEC has recently increased its scrutiny of Ethereum’s native token, ETH, Securitize CEO Carlos Domingo emphasizes that the investigations should be separate from the underlying blockchain infrastructure. Domingo also highlights the battle-tested nature of the public Ethereum blockchain, which provides a “robust foundation” for tokenization activities. As previously reported by our sister website, Bitcoinist, BlackRock has emerged as an advocate for cryptocurrencies and tokenization within mainstream financial institutions. Chairman and CEO Larry Fink believes every financial asset will eventually be tokenized.\u00a0 The company’s iShares Bitcoin Trust (IBIT) has already attracted more than $13 billion in inflows since its launch as an exchange-traded fund (ETF) in January. With the BUIDL fund’s launch, BlackRock continues to demonstrate its willingness to explore new digital asset solutions. Ondo Finance To Transfer $95 Million In Assets To BlackRock Ondo Finance, a platform specializing in tokenized real-world assets (RWA), has moved\u00a0$95 million worth of assets to BlackRock’s BUIDL fund. This strategic move enables Ondo Finance to facilitate instant settlements for its US Treasury-backed token, OUSG.\u00a0 This makes Ondo Finance a major participant in the BUIDL ecosystem. According to on-chain researcher Tom Wan, it currently holds $15 million worth of BUIDL tokens, which, in addition to those above $95 million, will result in a substantial $110 million worth of BUIDL tokens.\u00a0\u00a0 Related Reading: Here\u2019s Why The Cardano Price Is Struggling Below $0.7 The researcher noted that this collaboration further strengthens the tokenized US Treasury market, with the potential to reach $1 billion in value. In its announcement, the team behind the Ondo Finance platform summarized: We\u2019re excited to see BlackRock embracing securities tokenization with the launch of BUIDL, especially its broad cooperation with ecosystem participants. Not only does this further validate our original concept of a tokenized US Treasury fund, but it also bolsters our thesis that tokenization of traditional securities on public blockchains represents the next major step in the evolution of financial markets. At the time of writing, the native token of Ondo Finance, ONDO, is trading at $0.909, exhibiting a surge of over 4% within the past 24 hours. This positive momentum adds to its impressive price uptrend of 115% recorded over the past 30 days.\u00a0 Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":600073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[7720,15557,91200,89215,91762,1020,1026,6664,1558,54512,8323,1946,91924,91946,91947],"class_list":["post-600072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blackrock","tag-blackrock-ceo","tag-blackrock-ishares-bitcoin-trust","tag-blackrock-news","tag-blackrocks-ishares-bitcoin-etf","tag-blockchain","tag-blockchain-technology","tag-crypto","tag-cryptocurrency","tag-defi","tag-eth","tag-ethereum","tag-ondo-finance","tag-ondousd","tag-ondousdt"],"acf":[],"yoast_head":"\n
Ondo Finance Joins BlackRock Tokenized Fund As Inflows Surpass $160M<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n