Investment Giant BlackRock Provided Large Amount of Funding for This Altcoin! Here Are the Details

BlackRock’s tokenized fund, BUIDL, has completed a one-time transfer of approximately $500 million on the Polygon (MATIC) network.

BlackRock’s Tokenized Fund BUIDL Makes $500 Million One-Time Investment in Polygon Network

This large-scale transaction marks a new era in BlackRock’s blockchain-based asset management strategy and was officially confirmed by Polygon’s CEO.

Polygon CEO stated in a statement on social media that the transaction was the first large-scale distribution of the BlackRock BUIDL fund to the Polygon network.

This move is considered an indication that both traditional finance (TradFi) and decentralized finance (DeFi) fields are becoming increasingly closer.

BUIDL is BlackRock’s tokenized treasury fund for institutional investors, offering investors access to blockchain-represented versions of secure assets such as U.S. Treasury bonds.

Experts predict that this $500 million transfer will boost institutional confidence in the Polygon ecosystem and that similar-scale fund movements could spread to other chains in the future.

This development is considered a significant milestone in BlackRock’s integration strategy into blockchain infrastructures.

*This is not investment advice.