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US tokenized Treasuries market grew 61% in Q1

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The US tokenized Treasuries market cap surpassed $1.1 billion, registering a 61% progress in 2024’s first quarter, in accordance with on-chain information platform rwa.xyz. BlackRock’s tokenized fund BUIDL performed a big function on this motion, including $285 million to the sector in 20 days after its launch.

Every of BUIDL’s shares is price $1, and it generates day by day accrued dividends for certified traders by investing in money, US Treasury payments, and repurchase agreements. The yield is paid in new tokens every month. The fund now represents 25.2% of the US tokenized Treasuries market.

Regardless of BlackRock’s sturdy debut on this blockchain sector, Franklin Templeton’s OnChain U.S. Authorities Cash Fund retains its lead with 32% market share. Nonetheless, its dominance has fallen by over 16% since BUIDL was launched.

Furthermore, a shift in blockchain infrastructure dominance occurred in Q1. Stellar surpassed Ethereum in January, propelled Franklin Templeton’s tokenized fund. Nonetheless, since BUIDL shares are tokenized by means of Ethereum, the community now represents 62% of real-world belongings represented digitally.

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