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ukMain » All crypto news » BlackRock Fund to Launch an Unforeseen Altcoin Network
BlackRock Fund to Launch an Unforeseen Altcoin Network
According to recent reports, the BlackRock BUIDL fund, which was initially launched on the Ethereum network, will also be available on Avalanche (AVAX). The digital platform Securitize, which manages the fund, has begun utilizing the income-generating BlackRock BUIDL fund on the Avalanche blockchain.
Originally introduced on Ethereum, BUIDL was designed to allow qualified investors to earn returns in US dollars through a blockchain-based subscription service offered by Securitize Markets, LLC. Essentially, BUIDL enables investors to own tokens with a fixed value of 1 dollar and receive daily dividends that are paid directly to their wallets.
The fund maintains its liquidity by investing in cash, US Treasury bonds, and repurchase agreements. Through the tokenization of the fund, BlackRock aims to broaden investor access, ensure transparent reconciliation, and simplify the transfer of funds between platforms.
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