Ondo Finance contributes 95 million Dollars to BlackRock’s BUIDL, elevating total AUM to 240 million Dollars

Crypto News– Ondo Finance, a company specializing in tokenized real-world assets, has unveiled plans to inject $95 million of its own assets into a tokenized fund managed by BlackRock.

Ondo Finance contributes 95 million Dollars to BlackRock’s BUIDL, elevating total AUM to 240 million Dollars

In a blog post dated March 27, the company outlined its intention to transfer asignificant portion of the assets backing its OUSG token to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

This allocation mirrors the entire total value locked (TVL) of OUSG, as indicated in the asset’s official overview. Additionally, the same documentation suggests that a portion of the funds may also find placement in BlackRock’s FedFund (TFDXX), the USDC stablecoin, and other investment vehicles.

OUSG token offers investors liquid exposure to short-term US Treasuries. The company emphasized that these latest developmentsvalidate its original concept of a tokenized US Treasury fund and underscore the significance of tokenizing traditional securities in advancing financial markets.

Relying on BUIDL aligns with Ondo’s broader strategy to enable instant, 24/7 settlement, and redemptions.

BUIDL has amassed 240 million Dollars in investments

The latest update coincides with a Bloomberg report revealing that BlackRock’s BUIDL attracted $240 million within its inaugural week of operations.

Arkham Intel’s real-time data indicates that BUIDL’s Ethereum address boasts a balance exceeding $100 million, with the majority comprising USDC used to seed the fund. Notably, a portion of this balance, surpassing $141,000, appears to stem from cryptocurrency donations from the community rather than assets directly linked to the fund.

BlackRock launched its BUIDL fund on the Ethereum blockchain on March 19, as stated in a regulatory filing. A subsequent public announcement on March 20 detailed the fund’s asset tokenization through the issuance of BUIDL tokens, enabling accredited investors to earn US dollar yields via subscription with Securitize Markets.

The fund allocates 100% of its assets to cash, US Treasury bills, and repurchase agreements. BlackRock has dubbed the fund the first tokenized fund issued on a public blockchain.