BUIDL
BlackRock USD Institutional Digital Liquidity Fund
BlackRock's tokenised institutional money-market fund — issued on Ethereum + Solana via Securitize.
BUIDL launched March 2024 and crossed $500M AUM within months. Investors are accredited / qualified-purchaser only; redemption goes via Securitize (T+1). BUIDL backs reserves for several yield-bearing on-chain products including Ondo OUSG and parts of the Frax v3 collateral mix.
Related terms
- RWA (real-world assets)Tokenised off-chain assets — Treasuries, money-market funds, credit pools, real estate — used as on-chain collateral or yield products.
- Money-market fundA regulated mutual fund holding short-duration government / corporate paper, structured to maintain stable NAV.
- SecuritizeA SEC-registered transfer agent and broker-dealer — the on-chain issuance partner for BUIDL, several Hamilton Lane funds, and Apollo-affiliated tokens.
- T-bill (US Treasury bill)A short-duration (≤ 1 year) US government debt instrument — the primary reserve asset for major fiat-backed stables.