@theamodhshetty
Next Big Impact Move by BlackRock in Crypto!
BlackRock’s BUIDL fund
one of the world's largest asset managers, BlackRock, entering the crypto space in a New way. a full-fledged fund blending traditional finance with blockchain.
What is BlackRock’s BUIDL Fund?
BlackRock USD Institutional Digital Fund, popularly known as BUIDL, is a tokenised money market funds. In simple terms, it converts traditional financial products into cryptographic tokens traded on blockchain networks.
But wait what’s a money market fund anyway?
It’s a mutual fund designed for people who want to safely park their money temporarily. Money market funds invest in highly liquid, short-term debt instruments like cash, Treasury bills, and other secure assets. They give modest returns without major risk.
BUIDL takes these conventional money market funds and places them onto blockchains like Ethereum and Solana, combining the stability of traditional finance (TradFi) with the speed and transparency of crypto.
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