With the integration of Zero Hash, qualified investors can now effortlessly subscribe to BlackRock’s tokenized fund using the USDC stablecoin.
Securitize, a platform for tokenizing real-world assets released an announcement that institutional investors could purchase the BlackRock USD Institutional Digital Liquidity Fund using USDC thanks to their collaboration with Zero Hash, a stablecoin infrastructure platform.
Zero Hash will, however, convert user currencies to US dollars. Securitize’s co-founder and CEO, Carlos Domingo, said in a news statement that the company introduced the new function in response to customer demand that has been increasing.
Effective transactions are made possible by using Zero Hash to convert USDC to USD, which also guarantees that the procedure stays “natively on-chain,” according to Domingo.
BlackRock’s Tokenized Fund Dominates
BlackRock’s first tokenized fund, BUIDL, became live on the Ethereum blockchain in March 2024. With over $550 million in assets under management as of this writing, the fund is growing in the real estate sector.
Through the fund, investors can access cash, buyback agreements, and US Treasury bills in an on-chain asset with a $1 token value.
Investors accumulate daily dividends and deposit them into their wallets every month. The value of all real-world assets on-chain is currently over $12.8 billion, according to rwa.xyz. Of this, tokenized treasuries hold more than $2.2 billion, of which $1.6 billion is on Ethereum.
With a market value of more than $550 million, BlackRock’s BUIDL is the largest, followed by the Ondo U.S. Dollar Yield and the Franklin Onchain U.S. Government Money Fund, with respective market values of more than $441 million and $437 million.
