Blockchain-based American treasuries win a serious momentum and get closer to a new highest point of $ 6 billion in value.
These digital financial instruments reflect traditional government bonds, but live in the chain, and offers investors who offer exposure to the proceeds of the extra benefits of blockchain technology.
According to Real-World Assiva platform RWA.XYZ data, the tokenized treasuries on public block chains were $ 4.01 billion from January.
Since then, the figure has risen by more than 43%, by around $ 5.95 billion.
This sharp increase reflects the growing institutional confidence in blockchain as a tool for modernizing markets with fixed -income incomes.
Ethereum is the dominant blockchain in this sector and organizes $ 4.3 billion in tokenized treasuries. Stellar and Solana follow $ 474 million and $ 273 million respectively.
BlackRock’s Buidl dominates the market
The USD institutional digital liquidity fund of BlackRock, generally known as Buidl, has emerged as the clear market leader.
RWA.XYZ -Details show that the Fund has collected $ 2.47 billion in assets, accounting for 42% of the total tokenized treasury space. In the past month, the value of Buidl has grown by 92%, which emphasizes the rapid acceptance.
Ethereum remains the primary blockchain for Buidl, with more than 91% of its offer, or around $ 2.3 billion.
In the meantime, the rest is spread over newer block chains and Ethereum Layer-2 networks, including arbitrum, polygoon, optimism, aptos and avalanche. Aptos and Avalanche host each host of around $ 53 million of the value of the fund.
The fund will be launched in March 2024 and pays daily dividends generated from the American treasury assets in the short term.
Each Buidl token is supported one-on-one with the US dollar and offers a yield potential comparable to treasuries and functioning as a stablecoin.
Tradfi embraces blockchain
The success of BlackRock with Buidl reflects a more important movement under financial institutions that embrace Tokenized Real-World assets (RWAS).
Industrial analysts have pointed out that tokenized treasuries offer a practical bridge between traditional finances and decentralized ecosystems.
As a result, various large financial companies also come to space. Franklin Templeton, for example, has a competitive tokenized fund with a market capitalization of $ 706 million.
In the meantime, Fidelity is also preparing to participate in the race. The asset manager recently submitted to the US Securities and Exchange Commission (SEC) to launch ‘Onchain’, a blockchain-driven version of its Treasury Money Market Fund.
