BlackRock's Tokenized Fund BUIDL Invests Half a Million USDC in Ondo Finance
CryptoNewsTerminal Staff11 Sep, 2024
BlackRock's Tokenized Fund BUIDL Invests Half a Million USDC in Ondo Finance
BlackRock's tokenized fund BUIDL has deposited a total of 500,000 USDC into Ondo Finance (ONDO) in two separate transactions over the past day, according to blockchain analytics firm ARKAM. This investment marks a significant move by BlackRock, the world's largest asset manager, into the decentralized finance (DeFi) space. Ondo Finance is a DeFi protocol that allows users to create and manage structured financial products. The platform has seen significant growth in recent months, with its total value locked (TVL) increasing by over 100% in the past month. BlackRock's investment in Ondo Finance is a clear indication of the growing interest in DeFi from institutional investors. As the DeFi market continues to mature, we can expect to see more and more traditional financial institutions entering the space.
