贝莱德和 Securitize 联手革新数字资产代币化

贝莱德与 Securitize 的合作标志着美国受监管代币化市场的一个重要里程碑。贝莱德的美元机构数字流动性基金（BUIDL）仅以现金等价物持有，是机构日益采用代币化资产的一个关键发展。 Securitize 作为 BUIDL 的转让代理和发行平台，使其成为机构资本的中心，促进合规代币化市场的增长。

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

贝莱德与 Securitize Forge 合作加速美国数字资产代币化

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.

全球最大的资产管理公司之一贝莱德 (BlackRock) 与领先的数字资产代币化平台 Securitize 宣布合作，在金融界引起了轩然大波。这一战略合作伙伴关系标志着美国受监管的代币化市场发展的一个重要里程碑。

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.

贝莱德的美元机构数字流动性基金（BUIDL）是 Securitize 生态系统中的首个此类基金，准备吸引机构资本和眼光敏锐的基金经理。 BUIDL 将仅以现金、美国国债和回购协议（repos）的形式配置其资产，实际上将其归类为数字货币市场产品。

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 作为 Arca 的美国国库基金 (RCOIN) 的转让代理和发行平台发挥了关键作用。虽然 Arca 在 2020 年开创了基于区块链的超流动性基金结构，但贝莱德进入这一领域被广泛视为点燃其变革潜力的催化剂。

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.

根据 Security Token Market (STM.co) 的数据，截至 2024 年 3 月，代币化资产的生命周期另类交易系统 (ATS) 交易量超过 1.1 亿美元。BUIDL 的 1 亿美元种子资金使其成为 Securitize 迄今为止最大的资产。在推出的第一周内，BUIDL 就吸引了约 1.75 亿美元的资金流入，使其在货币市场基金中排名第二，管理规模达 2.75 亿美元，仅次于富兰克林邓普顿 (Franklin Templeton) 超过 3.6 亿美元的货币市场基金。

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 最初仅面向一级市场的合格购买者 (QP)（包括估计 270 万个可投资资产超过 500 万美元的家庭或可投资资产至少 2500 万美元的投资经理和公司）开放，BUIDL 最终过渡到二级市场上市将创造更优惠的交易条件来激励投资者。

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 的吸引力在于它能够为投资者提供收益，同时允许他们评估 Securitize 上列出的其他另类投资，例如 KKR 和 Hamilton Lane 基金。此功能使投资者能够在单一平台内建立和管理多元化的投资组合。

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 年综合证券代币状况报告系列中所述，货币市场和国债为资产管理者提供了一个低门槛的切入点，让他们熟悉代币化技术和不断发展的格局。贝莱德的流动性基金预计将成为其他寻求安全存放资金并熟悉链上金融的蓝筹资金管理公司的基准。

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，领先的数字资产投资平台 Ondo Finance 将其代币化短期债券基金中的 9500 万美元重新分配给 BUIDL。此次交易凸显了对 Securitize 和 BUIDL 日益增长的信托信任，这正在吸引大量资本流入该生态系统。

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.

围绕 BUIDL 的活动增加预计将对其他另类投资产品以及 Securitize Markets 一级和二级交易场所的上市产生积极的溢出效应，从而刺激资本流动和市场活动。这一发展可能为经纪交易商、另类交易系统和类似的监管场所树立先例，影响其发行人的结构和战略方法。

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.

总之，贝莱德和 Securitize 之间的合作标志着美国数字资产行业的变革时刻。 BUIDL 的推出，加上机构投资者越来越多地采用代币化，正在为该国强大且合规的代币化市场的发展铺平道路。随着行业的不断发展，观察这种战略合作对金融格局和数字资产更广泛采用的长期影响将是令人着迷的。