Securitize taps Zero Hash to enable purchase of BlackRock’s BUIDL via USDC

Securitize, a real-world asset tokenization platform, has integrated Zero Hash to enable qualified investors to easily subscribe to BlackRock’s tokenized fund via its USDC stablecoin.

In its announcement, Securitize said that its partnership with stablecoin infrastructure platform Zero Hash will allow institutional investors to purchase the BlackRock USD Institutional Digital Liquidity Fund using USDC (USDC). However, users’ money will be converted to US dollars via Zero Hash.

Carlos Domingo, Securitize’s co-founder and chief executive officer, stated in the press release that the company’s launch of the new feature follows increased demand from customers.

Domingo noted that using Zero Hash to convert USDC to USD allows for efficient transactions and ensures that the process “stays locally on-chain.”

BlackRock’s tokenized fund dominates

BUIDL is BlackRock’s first tokenized fund, launching on the Ethereum (ETH) blockchain in March 2024. At the time of this writing, the fund is expanding in the real-world asset market with a total value of assets under management exceeding $550 million.

With the fund, investors will have access to US Treasury bonds, cash, and repurchase agreements on an on-chain asset that provides a value of $1 per token. Investors receive daily accrued dividends sent to their wallets on a monthly basis.

According to rwa.xyz, the total value of real-world assets on the chain currently stands at over $12.8 billion. More than $2.2 billion of this is in tokenized treasuries, while $1.6 billion is in Ethereum.

BlackRock’s BUIDL led with a market capitalization of over $550 million, while Ondo US Dollar Yield and Franklin Onchain US Government Currency Fund were the next two largest funds, valued at over $441 million and $437 million, respectively.