Ondo Finance made a major announcement that it is exchanging $100 million with BlackRock for its fund that is tokenized (BUILD) in order to facilitate immediate settlements for OUSG, a token that represents treasury bills (TB).
By optimizing the liquidity and decentralization of OUSG BlackRock, the Fund is positioned to strengthen the uses and speed of OUSG.
Ondo Finance, prior to its OUSG token with a BlackRock iShares Short Treasury Bond ETF, which can only be spent successfully within normal market hours.
The transition of BlackRock’s BUIDL fund, 24/7, is exactly what crypto markets need, as it gives an opportunity to immediately pop the money in and take it out of the system.
The thesis of the move is highly impressive as it was made through the first use of BlackRock’s tokenized fund in the tradition of solving the problems of cryptocurrency.
BUILD, symbolized as a token with a smart contract residing on the Ethereum blockchain, has USD Treasury bills and repo agreements as the collaterals, aimed towards white-listed brokers that would allocate a minimum of $5 million.
Nathan Allman, the CEO of Ondo Finance, emphasized the primary focus on instant settlement implementation in OUSG to provide a more substantial ground for it to be widely used as an asset value storage and collateral within the crypto world.
The possibility to bid transactions in real-time and to have them processed along with the volatility of crypto marketing where the for capital can pop up at any time is a vital feature.
Stable Coins affiliated with Ondo such as OUSD have moved $15 Million of user deposit Assets to Blackrock’s BUIDL; these transactions were only a foretaste to the $80 Million remaining assets that we committed to move immediately. This proves that Ondo still honors its pledge to the investment community of having a much simpler and faster payment system with tokenized assets.
BlackRock’s BUIDL fund has gained notable interest from the beginning, gathering $240 million during the first week of its distribution. It is a good sign that digital asset funds will be on the rise and that tokenized funds will have an increase in the audience from institutional investors.
The collaboration between Ondo Finance and BlackRock could pave the way for further integration between cryptocurrency protocols and traditional financial instruments.
