ONDO doubled in a week, BlackRock’s entry once again ignited the RWA track
On March 25, the RWA protocol ondo finance token ONDO exceeded $0.9 and was quoted at $0.93 at the time of writing, with a 24-hour increase of 29%. In addition to ONDO, other RWA protocol tokens also achieved impressive gains.
The RWA track has seen a general rise recently
Recently, the RWA track protocol tokens have seen a general rise , the tokens of multiple projects continue to hit record highs.
Among them, Ondo Finance token ONDO broke through $0.9 and is now trading at $0.9050, with a 24-hour increase of 22.96%. ONDO has risen by more than 110% in the past week. Ondo Finance is a Web3 services company that creates and manages institutional-grade financial products, including U.S. Treasury bonds and money market funds. Ondo builds DeFi protocols around these products to meet the income needs of organizations, DAOs, and high-net-worth individuals.
Ondo Finance was founded in 2021 by Nathan Allman and has raised $2,400 to date from investors including Pantera Capital, Founders Fund, Coinbase Ventures and Tiger Global Ten thousand U.S. dollars. Team members have extensive backgrounds in various institutions and protocols including Goldman Sachs, Fortress, Bridgewater, and MakerDAO.
The Realio Network token RIO, a Layer1 network that focuses on the issuance and management of RWA, also followed suit, rising 108% in the past week. The real estate token investment market Propchain token PROPC has increased by 61.9% in the past week and 29.1% in 24 hours.
BlackRock launches BUIDL Funds are a strong positive
Why has the RWA track been able to attract funds quickly in the near future? The community believes it is related to BUIDL, the tokenized fund launched by BlackRock last week.
On March 21, BlackRock launched its first tokenized fund issued on a public blockchain - BlackRock USD Institutional Digital Liquidity Fund (acronym BUIDL). BUIDL will subscribe to the Fund through Securitize Markets, LLC, providing accredited investors the opportunity to earn U.S. dollar income. BlackRock pays daily accrued dividends as new tokens directly into investors’ wallets. The fund invests 100% of total assets in cash, U.S. Treasuries, and repurchase agreements, allowing investors to earn income while holding tokens on the blockchain.
This time the cooperation with BlackRock The company Securitize is a digital asset securities company that focuses on RWA and has a huge business scale. It obtained the SEC transfer agent registration qualification in 2019. In 2021, it obtained the joint leadership of tactical value from blockchain capital and Morgan Stanley’s investment management team. $48 million in financing.
In 2022, Securitize will provide tokenized investment funds for the US KKR fund; last year, Securitize announced that it will provide tokens to the private credit fund of asset management company Hamilton Lane services.
Therefore, the cooperation with Securitize undoubtedly makes the market once again aware of BlackRock's optimistic attitude towards the RWA track. As a Wall Street giant representing traditional finance, the holdings of the Bitcoin ETF launched by BlackRock have reached 15 billion US dollars. The entry into RWA is an important strategic move by BlackRock to embrace digital assets after ETF, and it has also become an important driving force for the RWA track in the encryption field. .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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