Solana Welcomes BlackRock’s $1.7B Tokenized Money Market Fund BUIDL in Partnership with Securitize

BlackRock’s Tokenized BUIDL Fund Expands to Solana as Adoption Grows

BlackRock’s tokenized money market fund, BUIDL, has officially launched on Solana, according to an announcement from Securitize. The expansion marks another milestone in BlackRock’s continued push into blockchain-based finance.

With this move, BUIDL is now available on seven different blockchains, including Ethereum, Polygon, Aptos, Arbitrum, and Optimism. However, data from rwa.xyz reveals that just 62 wallets currently hold BUIDL tokens, highlighting the early stage of adoption.

Originally introduced on Ethereum in 2023, BUIDL—formally known as the BlackRock USD Institutional Digital Liquidity Fund—offers a tokenized portfolio of cash and U.S. Treasuries, providing institutional investors with blockchain-enabled settlement and transfer capabilities. The fund has grown to $1.7 billion in assets and is expected to surpass $2 billion by early April, according to Securitize.

“The demand for tokenized real-world assets is accelerating, and bringing BUIDL to Solana enhances accessibility while leveraging the network’s speed and efficiency,” said Carlos Domingo, co-founder and CEO of Securitize.

Traditional money market funds allow investors to earn yield on idle cash but are often limited by banking hours. Tokenized versions, like BUIDL, enable seamless 24/7 transactions.

BlackRock is not alone in exploring tokenized finance. Franklin Templeton offers a competing tokenized fund with a $692 billion market capitalization and 558 wallet holders. Meanwhile, Figure Markets has launched YLDS, an interest-bearing stablecoin. Other major tokenized U.S. Treasury products include Hashnote’s Short Duration Yield Coin (USYC) and Ondo U.S. Dollar Yield.

The tokenized Treasury sector is one of the fastest-growing segments of digital assets, expanding nearly sixfold in the past year and surpassing $5 billion in total market capitalization, according to rwa.xyz.

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