Securitize integrates with Zero Hash to enable purchases of BlackRock’s BUIDL with USDC conversion.
Alyssa Davidson
Posted: Oct 15, 2024 11:35 AM Updated: Oct 15, 2024 11:35 AM
Correction and fact check date: October 15, 2024, 11:35 AM
briefly
Securitize announced that institutions can now convert USDC to USD and join BlackRock’s USD Institutional Digital Liquidity Fund.
Tokenization platform Securitize announced that eligible institutions can now convert USDC to USD through its integration with Zero Hash, a platform designed to facilitate conversions between the U.S. dollar and digital assets. This allows institutions to join BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).
By integrating with Zero Hash, Securitize helps digital asset companies maintain an on-chain presence throughout the entire investment lifecycle. This integration allows investors to leverage USDC for BUIDL investments, increasing process efficiency.
Launched in March 2024, BUIDL is designed to offer multiple benefits to investors, including the ability to issue and trade ownership rights on the blockchain. This approach not only expands access to on-chain products, but also ensures near-instantaneous and transparent payments and facilitates transfers between various platforms.
As of October 15, BUIDL is recognized as the world’s largest tokenization fund, boasting $550 million in assets under management (AUM). The fund aims to pay daily dividends directly to investors’ wallets in the form of new tokens every month, while maintaining a stable value of $1 per token. BUIDL invests 100% of its total assets in cash, US Treasury bonds and repurchase agreements, giving investors the opportunity to earn returns in US dollars while holding their tokens on-chain.
Securitize partners with leading asset managers to drive RWA tokenization.
Securitize is focused on the tokenization of real-world assets (RWA), with the goal of working with leading asset managers such as BlackRock, Hamilton Lane, and KKR to generate tokenized funds and transition these assets to the blockchain.
The company, through its subsidiaries, acts as an SEC-registered broker-dealer, digital trading agent, and operator of regulated alternative trading systems (ATS).
Recently, Securitize collaborated with the Wormhole Foundation to improve cross-chain interoperability for all assets tokenized on the platform. This partnership is designed to position Wormhole as the official blockchain interoperability provider for both Securitize’s existing and future tokenized assets.
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About the author
As a dedicated journalist at MPost, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
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Alyssa Davidson
As a dedicated journalist at MPost, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
more articles