BlackRock USD Institutional Digital Liquidity FundPrice

(BUIDL)

The BlackRock USD Institutional Digital Liquidity Fund, known by its token BUIDL, is a tokenized money market fund launched by BlackRock in March 2024. Its primary objective is to generate current income while maintaining liquidity and principal stability for investors. BUIDL operates as a stable, dollar-denominated digital asset that merges the operational efficiencies of blockchain technology with the stability of traditional financial instruments. Each BUIDL token is designed to maintain a stable value, typically pegged to one US dollar. Instead of appreciating in price, investors receive daily accrued dividends, which are paid out monthly in the form of additional BUIDL tokens. The fund invests all of its assets in highly liquid, short-term, high-quality debt securities. These include US Treasury bills, cash, and repurchase agreements. BUIDL is specifically designed for institutional investors and qualified purchasers. Initially launched on the Ethereum blockchain, BUIDL has expanded its reach and now operates across multiple blockchain networks, including Aptos, Arbitrum, Avalanche, Optimism, Polygon, and Solana. The tokenization process for BUIDL is managed by Securitize, which acts as a registered transfer agent. Bank of New York Mellon serves as the custodian for the fund's cash and securities. The project aims to bridge traditional asset management with blockchain technology, enabling features such as instantaneous settlement, transparent ownership, and improved liquidity for its investors. It seeks to address inefficiencies found in traditional fund management by allowing for enhanced transferability and reduced settlement delays. BUIDL is built to comply with relevant securities regulations and banking standards, providing a regulated and secure environment for digital asset investment. Learn more

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