Bernstein notes that whereas tokenized cash market funds aren’t new, the launch of the BlackRock USD Institutional Liquidity Fund (BUIDL) is critical in the way in which the funding supervisor has “introduced in key ecosystem companions from each the normal world and the crypto world.”
“This may facilitate interoperability between each side and would consolation extra conventional clients to undertake on-chain funds, with out main friction factors,” analysts Gautam Chhugani and Mahika Sapra wrote.
The fund is represented by the blockchain-based BUIDL token, and is totally backed by money, U.S. Treasury payments, and repurchase agreements, BlackRock stated.
