Securitize, BlackRock’s tokenization partner for its BUIDL tokenized money market fund (MMF), announced some updates to the token behavior yesterday. The changes were pretty simple: the fund can now be redeemed intraday rather than waiting until 3pm. And it pays out interest daily rather than monthly.
It’s that last point that’s worth further attention. BUIDL is not the largest public blockchain tokenized MMF. It’s almost half the size of Hashnote’s USYC, which was acquired earlier this week by Circle. Hashnote does not pay out interest, it accumulates it in the fund token. Which is better? And what other options are there?
Traditionally money market funds will add the interest to your account. So far, BlackRock has mirrored this, likely because there’s some integration with their existing systems.
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