TLDR:
- Zero Hash processed $18.68 million in USDC to USD conversions for BlackRock’s $500M tokenized fund (BUIDL) in 24 hours
- Securitize incorporated with Zero Hash to makeitpossiblefor USDC to USD conversion for BUIDL financialinvestments
- BUIDL is the world’s biggest tokenized fund with over $500M in AUM
- Zero Hash now offers payment rails for 70% of the overall tokenized cash market fund market
- The combination intends to improve on-chain financier experience and broaden gainaccessto to steady financialinvestments
BlackRock’s tokenized cash market fund, BUIDL, hasactually seen considerable activity following a brand-new collaboration inbetween Securitize and Zero Hash. In the veryfirst 24 hours after introducing USDC to USD conversions, Zero Hash processed $18.68 million for the $500 million fund.
Securitize, a platform specializing in tokenizing real-world possessions, revealed its combination with Zero Hash on October 15,2024 This cooperation permits certified organizations to transform their USDC (a popular stablecoin) to USD for investing in BlackRock’s USD Institutional Digital Liquidity Fund, understood as BUIDL.
BUIDL, introduced in March 2024, is presently the world’s biggest tokenized fund with over $500 million in properties under management (AUM). The fund intends to deal financiers a steady worth of $1 per token and pays day-to-day accumulated dividends as brand-new tokens each month. BUIDL invests all of its possessions in money, U.S. Treasury expenses, and repurchase arrangements, supplying financiers an chance to make U.S. dollar yield while holding tokens on-chain.
Carlos Domingo, Co-founder and CEO of Securitize, mentioned th