貝萊德和 Securitize 聯手革新數位資產代幣化

貝萊德與 Securitize 的合作標誌著美國受監管代幣化市場的一個重要里程碑。貝萊德的美元機構數位流動性基金（BUIDL）僅以現金等價物持有，是機構日益採用代幣化資產的關鍵發展。 Securitize 作為 BUIDL 的轉讓代理商和發行平台，使其成為機構資本的中心，促進合規代幣化市場的成長。

BlackRock and Securitize Forge Partnership to Accelerate Digital Asset Tokenization in the United States

貝萊德與 Securitize Forge 合作加速美國數位資產代幣化

The announcement of a collaboration between BlackRock, one of the world's largest asset managers, and Securitize, a leading digital asset tokenization platform, has sent ripples through the financial sector. This strategic partnership marks a significant milestone in the development of regulated tokenization markets within the United States.

全球最大的資產管理公司之一 BerRock 與領先的數位資產代幣化平台 Securitize 宣布合作，在金融界引起了軒然大波。這一戰略合作夥伴關係標誌著美國受監管的代幣化市場發展的一個重要里程碑。

BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), a first-of-its-kind fund within the Securitize ecosystem, is poised to attract institutional capital and discerning money managers. BUIDL will allocate its assets exclusively in cash, U.S. Treasury bills, and repurchase agreements (repos), effectively categorizing it as a digital money market product.

貝萊德的美元機構數位流動性基金（BUIDL）是 Securitize 生態系統中的首個此類基金，準備吸引機構資本和眼光敏銳的基金經理人。 BUIDL 將僅以現金、美國國債和回購協議（repos）的形式配置其資產，實際上將其歸類為數位貨幣市場產品。

Securitize has played a critical role as the transfer agent and issuance platform for Arca's US Treasury Fund (RCOIN). While Arca pioneered a blockchain-based structure for an ultra-liquid fund in 2020, BlackRock's entry into this space is widely seen as the catalyst that will ignite its transformative potential.

Securitize 作為 Arca 的美國國庫基金 (RCOIN) 的轉讓代理和發行平台發揮了關鍵作用。雖然 Arca 在 2020 年開創了基於區塊鏈的超流動性基金結構，但貝萊德進入這一領域被廣泛視為點燃其變革潛力的催化劑。

According to data from Security Token Market (STM.co), lifetime Alternative Trading System (ATS) volumes for tokenized assets surpassed $110 million through March 2024. BUIDL's substantial $100 million seed funding makes it Securitize's largest asset to date. Within its first week, BUIDL attracted inflows of approximately $175 million, propelling it to the second-largest position in the money market cohort with $275 million in AUM, trailing only Franklin Templeton's $360+ million money market fund.

根據 Security Token Market (STM.co) 的數據，截至2024 年3 月，代幣化資產的生命週期另類交易系統(ATS) 交易量超過1.1 億美元。BUIDL 的1 億美元種子資金使其成為Securitize 迄今為止最大的資產。在推出的第一周內，BUIDL 就吸引了約1.75 億美元的資金流入，使其在貨幣市場基金中排名第二，管理規模達2.75 億美元，僅次於富蘭克林鄧普頓(Franklin Templeton) 超過3.6 億美元的貨幣市場基金。

Initially available solely to Qualified Purchasers (QPs) in primary markets (comprising an estimated 2.7 million households with investable assets exceeding $5 million or investment managers and corporations with investable assets of at least $25 million), BUIDL's eventual transition to a secondary market listing will create more favorable trading conditions to incentivize investors.

BUIDL 最初僅針對一級市場的合格購買者(QP)（包括估計270 萬個可投資資產超過500 萬美元的家庭或可投資資產至少2500 萬美元的投資經理和公司）開放，BUIDL 最終過渡到二級市場上市將創造更優惠的交易條件來激勵投資者。

BUIDL's appeal lies in its ability to provide investors with yield while allowing them to evaluate other alternative investments listed on Securitize, such as KKR and Hamilton Lane funds. This feature enables investors to build and manage diversified portfolios within a single platform.

BUIDL 的吸引力在於它能夠為投資者提供收益，同時允許他們評估 Securitize 上列出的其他另類投資，例如 KKR 和 Hamilton Lane 基金。此功能使投資者能夠在單一平台內建立和管理多元化的投資組合。

As outlined in Security Token Advisors' comprehensive State of Security Tokens report series for 2023, money markets and treasuries offer a low-barrier entry point for asset managers to familiarize themselves with tokenization technology and the evolving landscape. BlackRock's liquidity fund is expected to serve as a benchmark for other blue-chip money managers seeking to park capital securely and gain familiarity with on-chain finance.

正如 Security Token Advisors 的 2023 年綜合證券代幣狀況報告系列中所述，貨幣市場和國債為資產管理者提供了一個低門檻的切入點，讓他們熟悉代幣化技術和不斷發展的格局。貝萊德的流動性基金預計將成為其他尋求安全存放資金並熟悉鏈上金融的藍籌資金管理公司的基準。

On March 27, 2024, Ondo Finance, a leading digital asset investment platform, reallocated a substantial $95 million from its tokenized short-term bond fund into BUIDL. This transaction highlights the growing fiduciary trust in Securitize and BUIDL, which is attracting significant capital inflows into the ecosystem.

2024 年 3 月 27 日，領先的數位資產投資平台 Ondo Finance 將其代幣化短期債券基金中的 9,500 萬美元重新分配給 BUIDL。此次交易凸顯了對 Securitize 和 BUIDL 日益增長的信託信任，這正在吸引大量資本流入該生態系統。

The increased activity surrounding BUIDL is anticipated to have a positive spillover effect on other alternative investment products and listings on Securitize Markets' primary and secondary trading venues, stimulating capital flows and market activity. This development is likely to set a precedent for broker-dealers, alternative trading systems, and comparable regulated venues, influencing their issuer structuring and strategic approaches.

圍繞 BUIDL 的活動增加預計將對其他另類投資產品以及 Securitize Markets 一級和二級交易場所的上市產生積極的溢出效應，從而刺激資本流動和市場活動。這項發展可能為經紀交易商、另類交易系統和類似的監管場所樹立先例，影響其發行人的結構和策略方法。

In conclusion, the partnership between BlackRock and Securitize marks a transformative moment for the digital assets industry in the United States. BUIDL's launch, coupled with the growing adoption of tokenization by institutional investors, is paving the way for the development of robust and compliant tokenization markets within the country. As the industry continues to evolve, it will be fascinating to observe the long-term implications of this strategic collaboration on the financial landscape and the broader adoption of digital assets.

總之，貝萊德和 Securitize 之間的合作標誌著美國數位資產產業的變革時刻。 BUIDL 的推出，加上機構投資者越來越多地採用代幣化，正在為該國強大且合規的代幣化市場的發展鋪平道路。隨著產業的不斷發展，觀察這種策略合作對金融格局和數位資產更廣泛採用的長期影響將是令人著迷的。