As part of this partnership, BlackRock’s digital liquidity fund BUIDL (BlackRock USD Institutional Digital Liquidity Fund) is now available on BNB Chain. In addition, BUIDL can now be used as OTC collateral on the Binance platform. With the fund representing more than $2.5 billion in investment value, the integration highlights a significant step forward for institutional capital.

Major Partnership Between BlackRock and Binance: BUIDL Now Live on BNB Chain

In a joint announcement, BlackRock and Binance emphasized that BUIDL has become “a core building block of on-chain finance.” Expanding the fund to BNB Chain increases liquidity across the ecosystem and gives institutional users access to additional collateral options.

Binance’s global institutional clients will now be able to:

• Use their collateral more efficiently
• Access tokenized Treasury products directly
• Hold yield-generating digital assets as active collateral

These features represent a significant transformation, especially for high-volume institutional traders. Binance executive Catherine Chen stated:

“Many of our institutional clients wanted more yield-generating, stable assets they could use as collateral while actively trading. The integration of BUIDL with BNB Chain and Ceffu directly meets this demand.”

BUIDL: The New-Generation On-Chain Liquidity Instrument

Issued by Securitize, BUIDL is a digital liquidity fund designed to maintain a stable value pegged to the U.S. dollar. Thanks to its stablecoin-like structure, it has become a crucial tool in the crypto ecosystem for:

• Collateral
• Liquidity management
• Efficient capital utilization

The fund is already active on major networks such as Ethereum, Aptos, Avalanche, and Solana, and also available on L2 solutions like Arbitrum, Polygon, and Optimism. The BNB Chain integration further expands its reach, placing it at the center of multi-chain institutional finance.

Why BNB Chain? The Ecosystem’s Rapid Growth Stands Out

BNB Chain has recently gained strong momentum, driven by:

• The rise of derivatives platform Aster
• Binance Alpha integrations
• The expanding Binance Wallet ecosystem
• Major RWA (Real-World Asset) projects like Ondo Finance moving to BNB Chain

These developments have accelerated the network’s push into institutional capital markets. BlackRock making its fund available on BNB Chain indicates confidence not only in the network’s technical capabilities but also in its institutional compliance framework.

The BlackRock–Binance Partnership Brings Institutional Transformation to Crypto

The integration of BUIDL into BNB Chain is strategically important for both Binance and BlackRock. This move showcases how tokenized Treasury products are growing within the crypto ecosystem and how real institutional finance is becoming intertwined with blockchain.

Institutional investors can now access:

• A broader range of collateral options
• On-chain liquidity tools
• Multi-chain asset management — all through a unified environment

This development supports BNB Chain’s strong growth trend while making BlackRock’s institutional approach to crypto more visible than ever.

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BlackRock Expands Its Tokenization Footprint

Created in partnership with Securitize, the BUIDL Fund focuses on low-risk, high-liquidity assets such as U.S. Treasury bonds, cash, and repurchase agreements. BlackRock’s first deployment of the fund took place on Ethereum in March 2024, marking the firm’s entry into blockchain-based liquidity solutions. In November 2024, the fund expanded to Aptos, highlighting the growing confidence in non-Ethereum networks.

With the latest $500 million deployment, Aptos now ranks as the second most adopted network for BUIDL allocations after Ethereum — a clear sign that BlackRock’s tokenization strategy is diversifying across multiple ecosystems.

Aptos Rises in Global RWA Rankings

Following this capital inflow, Aptos’ total RWA value has surged to approximately $1.22 billion. According to recent data, Ethereum leads the market with $12.09 billion in tokenized assets, followed by ZKsync Era with $2.36 billion. Aptos now holds the third spot, ahead of Polygon ($1.13 billion) and Arbitrum ($904 million).

Aptos has described this achievement as part of its mission to become “the chain to move what matters.” Initially known for its role in the 2022–2023 Layer-1 competition, the project is now regaining prominence through growing institutional engagement.

Why RWAs Are Gaining Institutional Traction

Real-world asset tokenization (RWA) refers to the process of representing traditional financial instruments — such as bonds or securities — as digital tokens on blockchain networks. This approach provides faster settlement, enhanced transparency, and 24/7 liquidity for institutional participants.

The increasing involvement of firms like BlackRock underscores how traditional finance and blockchain infrastructure are converging. Tokenized treasuries and money market funds are becoming some of the most active areas in on-chain finance, representing trillions in potential value over the coming years.

A New Era for Aptos

For Aptos, the $500 million addition represents more than just capital — it’s a validation of trust. As major financial institutions diversify beyond Ethereum, Aptos is emerging as a scalable and secure alternative for tokenized finance.

With over $1.2 billion in RWAs, Aptos is positioning itself as a key player in the institutional blockchain economy, potentially driving the next phase of adoption where tokenized assets become a mainstream component of global finance.

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What is OpenEden OpenDollar (USDO)?

USDO is issued by OED under a BMA Digital Assets Business License, authorizing the creation, sale, and redemption of virtual coins, tokens, or other digital assets. Structured as a Bermuda-registered segregated accounts company (SAC), OED ensures that USDO assets are legally separated from its general accounts under the SAC Act. This protects holders in case of insolvency: USDO reserves are held in a distinct account, inaccessible to OED, its shareholders, or creditors. The reserves, primarily tokenized Treasury Bills like TBILL and BUIDL, are managed by OED to maintain a 100% collateralization ratio, ensuring each USDO is backed by equivalent assets. A full list of reserve assets is available on the official website.

USDO supports instant minting with USDC or TBILL for KYC-verified investors, with a 1:1 minting ratio for USDC. The cUSDO, a wrapped version, is designed for platforms that don’t support rebasing tokens, accumulating yield internally while maintaining USDO’s value. Conversion between USDO and cUSDO is seamless via the cUSDO smart contract, with no difference in yield.

Purpose of OpenEden OpenDollar (USDO)

USDO bridges DeFi and traditional finance, offering a secure, USD-pegged stablecoin backed by low-risk assets like U.S. Treasury Bills. These provide predictable yields with minimal interest rate risk due to short maturities. Transparent reserve management, verified by Chainlink Proof of Reserves (PoR), builds user trust. The Bermuda SAC structure ensures bankruptcy remoteness, isolating USDO assets from OED’s general obligations, safeguarding holders even during financial distress.

How Does OpenEden OpenDollar (USDO) Work?

USDO is managed by OED under the SAC framework, with minting and redemption requiring a minimum $100,000 investment and KYC compliance, restricted to non-U.S. residents. Prohibited jurisdictions include Abkhazia, Afghanistan, Angola, and others (full list on the official site).

Minting Process:

• General Minting: Requests are validated (KYT, whitelist checks), collateralized with tokenized real-world assets (RWAs), and USDO is minted and sent to the client.

• Instant Minting: Authorized users mint USDO in a single transaction using USDC (1:1 ratio) or TBILL (based on exchange rate), requiring on-chain KYC/KYT clearance.

Redemption Process:

• Manual Redemption: USDO is sent to OED’s wallet before the daily 8:00 UTC cut-off on U.S. business days. Requests are validated, processed in FIFO order, USDO is burned, and USDC is returned within 1-2 business days.

• Instant Redemption: Limited by Circle and BlackRock BUIDL liquidity, USDO is burned, TBILL is sent to the TBILL protocol, and USDC is returned via the Circle BUIDL smart contract.

Bonus Multiplier: A daily rebase mechanism adjusts USDO balances (Balance = shares * bonusMultiplier), updated daily, including weekends, reflecting preset APY (adjustable based on market conditions).

Fees:

• Minting Fee: 0.03% deducted from minted USDO.

• Redemption Fee: 0.1% deducted from redeemed USDO.

Collateralization Ratio: Ensures 100% backing of USDO with reserves, allowing redemptions at $1 par value.

Transparency:

• Reserves Dashboard: Publicly accessible for on-chain reserve verification.

• Chainlink PoR: Validates reserve sufficiency.

OpenEden OpenDollar (USDO) Use Cases

USDO is used in DeFi for:

• Minting/Redemption: Instant conversion with USDC/TBILL.

• DeFi Integration: Liquidity provision, lending.

• cUSDO: Compatible with non-rebasing protocols.

Usage Steps:

1. Log into OpenEden Portal with a valid email and complete the pre-onboarding questionnaire.

2. Request USDO access and submit KYC documents.

3. Upon approval, mint/redeem via the USDO Portal.

Advantages of OpenEden OpenDollar (USDO)

• Security: Bermuda SAC ensures bankruptcy remoteness.

• Stability: 100% collateralized with short-term Treasury Bills.

• Transparency: Chainlink PoR and reserves dashboard.

• Efficiency: Instant minting/redemption, cUSDO interoperability.

Risks of OpenEden OpenDollar (USDO)

• Reserve Risk: Potential value loss from counterparty or market events.

• Blockchain Risk: Irreversible transactions, forks.

• Smart Contract Risk: Vulnerabilities, despite ChainSecurity audits.

• Liquidity/Listing Risk: Market fluctuations.

• Legal Risk: Regulatory changes.

• Exchange Risk: Platform disruptions.

• Trading Risk: Market volatility.

• Banking Risk: Fiat transaction issues.

• No Deposit Insurance: Assets uninsured.

• Third-Party Platform Risk: Unverified integrations.

• Blocked Addresses: Blacklisting for illegal activity.

• Termination Risk: Inability to redeem post-account closure.

• Inaccuracies Risk: Losses from incorrect addresses.

OpenEden OpenDollar (USDO) Tokenomics

USDO is a USD-pegged stablecoin; cUSDO is its wrapped, non-rebasing version.

• Collateral:

  • OpenEden: TBILL

  • Securitize (BlackRock): BUIDL

  • Franklin Templeton: BENJI

  • Securitize (VanEck): VBILL

• Burn Policy: None.

OpenEden OpenDollar (USDO) Team

The OpenEden OpenDollar (USDO) team comprises OpenEden’s founding members, experts in blockchain and financial innovation. Operating under a BMA license, OpenEden, a subsidiary of OpenEden Group, ensures robust stablecoin issuance and management.

• Jeremy Ng (Founder & CEO): Strategic vision and leadership.

• Duke Du (CTO): Technical infrastructure.

• Frederick Chng (Head of Product): Product development.

• Wayne Tan (General Counsel): Legal compliance.

Official Links

• Website
• X (Twitter)
• Whitepaper

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Twenty One Capital Raises Total Funding To $685M

Backed by giants like Tether, Bitfinex, and Wall Street’s Cantor Fitzgerald, Twenty One Capital received an additional $100 million investment through convertible notes. With this boost, the firm’s total funding reached $685 million.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

CEO Jack Mallers also revealed plans to launch a proof-of-reserves mechanism — a public ledger that transparently displays the firm’s BTC holdings. This comes just a month after the company emerged from stealth, aiming to accumulate billions in Bitcoin assets.

Securitize And Savea Push Tokenization Forward

Jump Capital quietly invested in Securitize, a tokenization platform now managing over $4 billion in onchain assets. Nearly $3 billion of that belongs to BlackRock’s tokenized fund BUIDL. This investment is the company’s first since BlackRock’s $47 million contribution in 2024.

In the UK, tokenization startup Savea raised $2.5 million to develop blockchain-based investment products backed by rare physical assets like luxury watches and vintage cars. The round was led by EmergentX.

Dexari Gets Backing For Mobile Wallet Built On Hyperliquid

Dexari, a self-custodial wallet and mobile trading app, closed a $2.3 million seed round co-led by Prelude and Lemniscap. The app aims to streamline crypto UX and is being built on Hyperliquid, a decentralized exchange launched in late 2024.

Dexari plans to launch its app on the App Store and Play Store soon.

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BNY will utilize blockchain to maintain a digital mirror of investor share ownership while traditional book-entry systems remain the official ledger.

Transparency Over Tokenization

Unlike BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), these new shares won’t be tokenized. Instead, they will serve as a transparency tool to verify ownership. A minimum $3 million investment is required for institutions to access the digital shares. No ticker symbol or management fee has yet been proposed.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Wall Street Embraces Blockchain Solutions

BlackRock follows in the footsteps of Fidelity, which filed in March to launch an Ethereum-based OnChain share class for the $80 million Fidelity Treasury Digital Fund (FYHXX), expected to go live on May 30 pending regulatory approval.

The market for tokenized Treasury products has grown to $6.16 billion, led by BlackRock’s BUIDL with $2.55 billion, and Franklin Templeton’s BENJI fund managing over $700 million.

Ethereum remains the dominant blockchain for tokenized real-world assets, currently hosting over $4.55 billion, followed by Stellar and Solana with $474.9 million and $274.5 million, respectively.

BlackRock CEO Larry Fink believes tokenization of real-world assets could revolutionize investing.

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BlackRock’s BUIDL Fund Triples in Value with the Tokenization Wave

BlackRock’s Ethereum-based tokenized money market fund has more than tripled in value over the past three weeks, approaching the $2 billion mark, during a period of rising demand for safe digital assets.

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) saw an increase of more than three times, rising from $615 million to $1.87 billion in the past three weeks. This data is based on Token Terminal data shared by Leon Waidmann, research director at the Web3 intelligence platform Onchain Foundation.

Waidmann shared in a post on March 26, “The BUIDL fund’s TVL exploded from $615M to $1.87B in just 3 weeks. The tokenization wave is hitting faster than most realize.”

BUIDL Fund Reflects Growing Institutional Interest in Tokenization

BlackRock’s BUIDL fund is part of the broader real-world asset (RWA) tokenization sector, which involves the tokenization of financial products and tangible assets such as real estate and valuable artworks on the blockchain, increasing investor access to and trading opportunities for these assets.

The surge in BlackRock’s fund reflects growing institutional demand for tokenized real-world assets, amid a reduction in regulatory uncertainty. Edwin Mata, co-founder and CEO of Brickken, stated, “The US is witnessing a significant shift toward a more crypto-friendly regulatory environment,” and added:

“The SEC has recently concluded several investigations without enforcement actions, including those involving Immutable, Coinbase, and Kraken.”

BlackRock launched the BUIDL fund in March 2024 in partnership with tokenization platform Securitize. Michael Sonnenshein, COO of Securitize, said that the fund aims to “make offchain assets less boring and more interesting.”

RWAs hit a new all-time high of over $17 billion on February 3, following Bitcoin’s drop below $100,000.

RWA Value Approaches $20B, New Records Expected in 2025

The total value of on-chain RWAs is now just 0.5% away from surpassing the $20 billion mark, with a total cumulative value of $19.57 billion. RWAs may rise to new all-time highs in 2025 as they attract investor interest amid Bitcoin’s lack of momentum. Alexander Loktev from P2P.org said, “Given the increasing participation of major financial institutions, particularly BlackRock and JPMorgan in tokenization, I believe the TVL could reach $50 billion.”

Loktev also pointed out that TradFi (traditional finance) institutions are “starting to view tokenized assets as a serious bridge to DeFi.”

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The vote, which opened on December 26, has seen all votes cast by decentralized finance (DeFi) lending protocol tokenholders in favor of the proposal so far. All comments in the discussion are also supportive. The vote will remain open until January 1, 2025.

Frax Finance tweet:

According to the vote summary, the benefits of passing the proposal for Frax USD may include creating income opportunities, deeper liquidity, transfer options, and reduced counterparty risk due to the backing of BlackRock.

In the December 22 discussion about the proposal, initiated by real-world asset tokenization platform Securitize, the broker-dealer for BlackRock’s BUIDL, a user named Achaffee said the move would help bridge traditional finance and DeFi.

According to Achaffee, tokenized real-world assets (RWAs) provide an excellent bridge between traditional finance and DeFi by bringing institutional-grade investments onchain.

Achaffee: “In the last 9 months alone, we’ve seen major players, including DAOs and decentralized protocols, put out large public RFPs to explore how they can most effectively strengthen their treasuries or back their stablecoins with RWAs.”

“These early explorations mark a significant evolution in how decentralized players manage their financial resources and consider cross-industry asset strategies,” added.

BUIDL, launched on March 15, surpassed half a billion dollars in assets under management (AUM) in less than four months.

BUIDL is pegged 1:1 with the US dollar and pays daily accrued dividends directly to investors each month through a partnership with Securitize. The fund invests in US government securities.

According to Dune Analytics data, $3.4 billion worth of tokenized treasury funds are now onchain.

Frax is not the first platform to consider a BUIDL-backed stablecoin. Ethena Labs, which is behind the USDe synthetic dollar, announced on September 26 that it was working on a BUIDL-backed stablecoin. This stablecoin, named USDtb, is a separate product offering from Ethena’s USDe. USDtb went live on December 16 and has accrued $89 million in total value locked (TVL), according to data from DefiLlama.

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