Summary
TLDR: The market for tokenized U.S. Treasury debt has surpassed $1 billion for the first time, with tokens traded on public blockchains like Ethereum. The market value has grown significantly, particularly after BlackRock announced an Ethereum-based tokenized fund.
Key Points
1. The market value of tokenized U.S. Treasury debt has crossed above $1 billion for the first time, indicating a booming market for these digital representations of government bonds.
2. Tokenized Treasury notes are being traded on public blockchains like Ethereum, Polygon, Avalanche, and Stellar, showing increasing adoption and interest in blockchain technology for traditional financial assets.
3. The market value of tokenized Treasuries has risen nearly 10-fold since January last year and 18% since the announcement of BlackRock’s Ethereum-based tokenized fund BUIDL, demonstrating the rapid growth and potential of this market.