EddieJayonCrypto
28 Mar 24
Ondo Finance has transferred $95 million to BlackRock’s tokenized fund, BUIDL, with the goal of facilitating instant settlements for OUSG. This initiative aims to transition from the traditional trade date plus two days settlement to instantaneous transactions. CEO of Ondo Finance, Nathan Allman, hi...
Ondo Finance has transferred $95 million to BlackRock’s tokenized fund, BUIDL, with the goal of facilitating instant settlements for OUSG. This initiative aims to transition from the traditional trade date plus two days settlement to instantaneous transactions.
CEO of Ondo Finance, Nathan Allman, highlighted that the transition to BUIDL will significantly expedite the subscription and redemption process for OUSG, addressing investor concerns over lengthy redemption times. $15 million of OUSG backing assets have already been shifted to BUIDL, with an additional $80 million expected. The fund represents an Ethereum-based token backed by US Treasury bills and repo agreements, designed for white-listed institutional clients with a minimum $5 million investment, yet it also allows platforms like Ondo Finance to leverage it for their retail offerings.
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