The post BlackRock’s tokenized money market fund lands on Solana appeared on BitcoinEthereumNews.com.

BlackRock is now running its tokenized money market fund on Solana, according to Fortune. The fund—officially called the BlackRock USD Institutional Digital Liquidity Fund, or just BUIDL—was launched a year ago and already sits on Ethereum and five other blockchains. Solana is the seventh. On Tuesday, Securitize, the company running the fund’s backend tech, confirmed the expansion. The fund currently holds $1.7 billion in a mix of cash and U.S. Treasury bills. A spokesperson for Securitize reportedly said the total will pass $2 billion in early April. The whole idea behind BUIDL is to give crypto-native traders access to a yield-bearing product that behaves like cash but lives fully on-chain. The fund started on Ethereum but has now moved to a faster and cheaper blockchain—Solana—that’s already become a favorite for developers and traders avoiding Ethereum gas fees. BlackRock adds Solana as capital flows into on-chain funds Michael Sonnenshein, who serves as COO at Securitize, told Fortune the goal is to bring life to something Wall Street has treated like a utility. “We’re making them unboring,” he said, referring to traditional money market funds. “We are advancing and leapfrogging some of the quote-unquote deficiencies that money markets may have in their traditional formats.” In the usual system, investors can only buy or sell these funds during banking hours. But crypto doesn’t work like that. Crypto markets run 24/7, and money moves fast. Traders need something that works at all times, especially during sudden crashes or pumps. That’s where stablecoins like USDT and USDC have come in, offering price stability without having to convert back into fiat. But those coins don’t pay interest, and they don’t generate any yield. This gap gave rise to products like BUIDL. Instead of just holding tokens that stay at $1, investors get yield from real-world assets…

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Filed under: News - @ March 25, 2025 2:31 pm