Ondo’s motion marks the primary instance of a crypto protocol leveraging asset administration big BlackRock’s tokenized fund providing, which debuted final week. The fund, represented by the Ethereum-based BUIDL token backed by U.S. Treasury payments and repo agreements, is focused for white-listed, institutional purchasers and requires a minimum of $5 million minimal allocation. Whereas the strict necessities prohibits smaller traders to spend money on BlackRock’s BUIDL, it permits different platforms comparable to Ondo to leverage the fund for its personal retail-facing choices.
