BlackRock Brings Tokenized Money Market Fund 'BUIDL' To Solana

BlackRock HOOD is deepening its engagement with blockchain technology by bringing its tokenized money market fund, BUIDL, to Solana.

What Happened: The development was confirmed on Tuesday by Securitize, BlackRock's tech partner, marking another significant step in the asset manager's digital asset roadmap, Fortune reported.

Originally introduced in 2023 as the BlackRock USD Institutional Digital Liquidity Fund, BUIDL integrates traditional money market features—such as short-term, yield-generating cash placements—with the efficiency and real-time transaction capabilities of blockchain infrastructure.

Initially launched on Ethereum ETH/USD, the fund is now accessible on a total of seven blockchains, with Solana the latest addition.

"Money market funds have typically been seen as conservative and limited in function," said Securitize COO Michael Sonnenshein. "What we're doing is transforming them to meet the speed and flexibility that modern investors expect."

As of Tuesday, BUIDL holds around $1.7 billion in combined U.S. dollars and Treasury instruments.

The fund is expected to cross the $2 billion threshold by early April, according to Securitize.

Also Read: Bitcoin Could Replace Tesla In ‘Magnificent 7’ To Boost Returns, Reduce Volatility: Standard Chartered

Why It Matters: This move is part of a broader trend toward tokenization in the financial sector—placing real-world assets like bonds and money market instruments on blockchains to boost accessibility, transparency, and liquidity.

While conventional money market funds are confined to business hours, tokenized versions allow users to engage with them any time, mirroring crypto's 24/7 markets.

For traders in volatile digital asset markets, on-chain money market funds provide a more efficient safe-haven than traditional stablecoins like USDC/USD or USDT/USD, which don't offer yield.

BlackRock isn't alone in this shift—Franklin Templeton has issued a similar product, and Mike Cagney's Figure Markets recently secured regulatory approval for an interest-bearing stablecoin.

This expansion follows BlackRock's successful launch of its spot Bitcoin BTC/USD ETF in January, which has accumulated nearly $40 billion in assets.

CEO Larry Fink noted at the time that tokenization represents the next phase of innovation in financial services, calling ETFs merely "step one."

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