BlackRock has integrated its tokenized money market fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), with Aptos, Arbitrum, Avalanche, Optimism, and Polygon, as reported by The Block.
Initially launched with Securitize, the structure was originally available on Ethereum.
The initiative aims to enhance the potential of the BUIDL ecosystem.
“Each blockchain opens its applications for interaction, expanding access for investors, DAOs, and other companies working with digital assets,” the partner’s statement reads.
BNY will continue to serve as the fund’s administrator and custodian for BUIDL.
BlackRock follows in the footsteps of competitor Franklin Templeton, which previously expanded support for its OnChain U.S. Government Money Fund (FOBXX) with the BENJI token, adding it to Aptos, Avalanche, and Arbitrum, alongside platforms Stellar and Polygon.
In 2021, FOBXX became the first U.S.-registered fund to use a public blockchain for transaction processing and share ownership accounting.
According to rwa.xyz, the AUM of the structure is $409.93 million. It ranks third after BUIDL with $544.47 million and Ondo U.S. Dollar Yield ($452.09 million).
In September, USDe issuer Ethena Labs announced the release of the UStb stablecoin in collaboration with the Securitize platform, fully backed by BUIDL.