UNCHAINED: How BlackRock’s New Fund on Ethereum Got a Very Crypto Welcome
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 March 2024
⏱️ 39 minutes
🧾️ Download transcript
Summary
Carlos Domingo, founder and CEO of Securitize, gives the scoop on why Blackrock’s new fund had to launch early and has a suggestion for how to handle dustings of Tornado Cash ETH.
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On Wednesday, BlackRock, the world's leading asset management firm, announced the launch of a tokenized investment fund, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, developed in collaboration with Securitize.
Carlos Domingo, founder and CEO of Securitize, discusses the launch of the fund, which is native to the public Ethereum blockchain and aims to bring an institutional-grade cash management product to crypto institutions, offering faster token issuance, redemption, and transferability.
Learn more: What Is Real-World Asset (RWA) Tokenization? A Beginner's Guide
He also talks about how Blackrock has embraced crypto, how the launch of the fund was “front run” by crypto Twitter, and how Blackrock will deal with issues such as the fund being dusted with ETH tainted by sanctioned Tornado Cash ETH.
Show highlights:
- What the BUIDL fund is, its essence and objectives
- How the fund rewards its users, with a system similar to crypto airdrops
- Whether they were worried about the regulatory aspects of bringing this product on-chain.
- Securitize's role in the partnership with BlackRock
- How much money flowed into the fund on the first day and who the target investor is
- Why BlackRock decided to build this product on Ethereum
- What BlackRock's attitude towards crypto is, according to Carlos
- How the launch of the fund was front-run by crypto insiders
- How a wallet associated with the fund received unintended funds from North Korean tied wallets and whether Ethereum should implement a mechanism for addresses to approve funds that are sent to it
- Whether the contract is secure and what steps Securitize is taking to increase the safety of the users
- The roadmap for the partnership between BlackRock and Securitize
Thank you to our sponsors! iTrustCapital | Polkadot | Uniswap
Guest
Carlos Domingo, Founder and CEO of Securitize
Previous appearance on Unchained: Could Securitize Democratize Access to Different Asset Classes?
Links
Previous coverage on Unchained of real-world assets:
The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets?
The Chopping Block: Will Tokenizing RWAs Finally Click This Time?
MakerDAO Has Brought in Real World Assets. Is It Worth the Risk?
BlackRock USD Institutional Digital Liquidity (BUIDL) Fund
The Block: BlackRock to launch tokenized investment fund with Securitize
Unchained:
Wallet Associated With BlackRock’s Tokenized Fund Spammed With Unsolicited ETH From Tornado Cash
Wallet Associated With BlackRock’s New Fund Receives Memecoins and NFTs
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Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.
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Transcript
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| 0:49.8 | Thanks for listening to Unchained, your no-hype resource for all things crypto, on the CoinDesk |
| 0:54.9 | Podcast Network. You can also listen to the episodes on the Unchained feed earlier if you subscribe there. |
| 1:01.4 | Plus, check out all our content on our website, Unchained Crypto.com. |
| 1:06.2 | And BlackRock is a very, now that I've got to know them a little bit, I'll say, |
| 1:10.5 | it's a very forward-thinking company that they see where the future is. |
| 1:14.2 | And if the future is a public blockchain and you can start there, why would you not start |
| 1:18.3 | a public blockchain instead of a private blockchain? |
| 1:20.6 | Hits up, everyone. |
| 1:21.7 | In the next few weeks, we're launching a new show on the Unchained channel called Bits and Bips, exploring how crypto and macro collide, |
| 1:28.7 | one basis point at a time. As you can guess, it's a show all about crypto and macro topics and |
| 1:33.7 | where they intersect. We started with a dry run the other day, and the show was so good, |
| 1:38.1 | we decided to tease a few moments in this podcast. The speakers you'll hear pepper throughout this |
... |
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