BlackRock’s tokenized BUIDL fund taps Chronicle for new ‘verification layer’
Overview
BlackRock has partnered with Chronicle to introduce a new verification layer for its tokenized BUIDL fund, enhancing the transparency and authenticity of tokenized assets.
Key Details
- The BUIDL fund, a tokenized version of BlackRock’s U.S. Treasury fund, is issued through Securitize and is now integrated with Chronicle’s Proof of Asset Verification layer.
- Chronicle provides institutional-grade asset verification, ensuring that tokenized assets accurately represent real-world financial instruments.
- This integration marks a significant step in bridging traditional finance with blockchain-based tokenization, enabling institutional investors to access and trade tokenized assets with greater confidence.
Background
Launched in March 2024, BUIDL was BlackRock’s first tokenized fund issued on a public blockchain. It is now accessible via decentralized finance (DeFi) protocols such as Uniswap, with trading facilitated through Securitize’s compliance framework.
Related Developments
- Chronicle has previously been selected as an oracle provider for tokenization initiatives, including the $1 billion SparkDAO tokenization grand prix, where BlackRock’s BUIDL fund was among the winners.
- Securitize has announced multiple integrations with verification platforms to ensure compliance and transparency in tokenized asset offerings.