According to the latest information, BlackRock’s BUIDL fund, which was previously deployed on the Ethereum network, will also be deployed on Avalanche (AVAX).
According to the latest onchain data, digital platform Securitize, which manages the fund, has started operating BlackRock’s return-generating BUIDL fund on the Avalanche blockchain.
Initially launched on Ethereum, BUIDL was launched to provide US dollar returns to qualified investors through a blockchain-based subscription offered by Securitize Markets, LLC.
Essentially, BUIDL offers investors the opportunity to hold a fixed-value token worth $1 and have daily accrued dividends paid out directly to investors’ wallets.
The fund maintains liquidity by investing in cash, US government bonds and repurchase agreements. By tokenizing the fund, BlackRock aims to increase investor access, enable transparent reconciliations and enable seamless transfers between platforms.
*This is not investment advice.
Credit : cryptonews.net
