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Bernstein notes that whereas tokenized cash market funds should not new, the launch of the BlackRock USD Institutional Liquidity Fund (BUIDL) is important in the way in which the funding supervisor has “introduced in key ecosystem companions from each the standard world and the crypto world.”
“This is able to facilitate interoperability between either side and would consolation extra conventional prospects 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 absolutely backed by money, U.S. Treasury payments, and repurchase agreements, BlackRock mentioned.
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