RWA Platform Ondo Finance Will Use BlackRock’s Ethereum-Based BUIDL Fund to Back Its T-Bill Token OUSG

Oendo's action is the first example of a crypto protocol taking advantage of asset management giant BlackRock's token fund offering, which launched last week. The fund, offered by the Ethereum-based BUIDL token backed by US Treasury bills and repo agreements, is targeted towards white-listed, institutional clients and requires a minimum allocation of at least $5 million. While the strict requirements prevent small investors from investing in BlackRock's BUIDL, it allows other platforms like Oondo to leverage funds for their retail-facing offerings.