BlackRock’s tokenized money market fund BUIDL has distributed about $100 million in dividends since launching in March 2024, according to tokenization firm Securitize, which serves as the product’s transfer agent and administrator.
The fund, which invests in short-dated U.S. Treasuries, repurchase agreements and cash equivalents, has grown past $2 billion in value, making it one of the largest tokenized cash products in the market.
The $100 million in payouts from BlackRock’s BUIDL fund serves as evidence of blockchain-based finance delivering at institutional scale.
The milestone comes as tokenized money market funds gain traction as a regulated alternative to stablecoins for institutions looking for yield-bearing dollar exposure.
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