Ondo Finance adds $95 million to BlackRock’s BUIDL, bringing total AUM to $240 million

Ondo Finance, a tokenized real-world asset company, announced plans to add $95 million of its assets to BlackRock’s tokenized fund.

in a blog post by March 27ththe company announced that it will transfer a “substantial portion” of the assets behind the OUSG token to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

This amount represents the entire Total Value Locked (TVL) of the OUSG, depending on the asset’s equity. Official overview. The page also suggests that some of the funds may also be held in BlackRock’s Fed Fund (TFDXX), the USDC stablecoin, and other investments.

The OUSG token provides liquidity exposure to short-term US government bonds. The company says of its latest development:[validate its] We described the unique concept of tokenized U.S. Treasury funds and demonstrated that the tokenization of traditional securities is an important step forward for financial markets.

The reliance on BUILD is part of Ondo’s broader strategy to provide instant payments and redemptions 24/7.

BUIDL raised $240 million

The latest news is Bloomberg reporting This means that BlackRock’s BUIDL raised $240 million in its first week of operation.

real-time data from arkham intel BUIDL’s Ethereum address is suggested to have a balance of over $100 million, primarily comprised of USDC that seeded the fund.Part of the balance — or more $141,000 — appears to come from crypto donations from the community rather than assets associated with the fund.

BlackRock launched the BUIDL fund on the Ethereum blockchain on March 19, as shown in a regulatory filing. In the subsequent public presentation, March 20th The fund will tokenize its assets in the form of BUIDL tokens, and said eligible investors can earn USD yield through a subscription with Securitize Markets.

The Fund invests 100% of its assets in cash, U.S. Treasury bills, and repurchase contracts. BlackRock called the fund “the first tokenized fund issued on a public blockchain.”

Ondo Finance’s post added $95 million to BlackRock’s BUIDL, bringing its total AUM to $240 million.

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