Coinbase to Provide Key Infrastructure for Blackrock’s Tokenized Investment Fund

Coinbase has secured a major partnership with Blackrock, the world’s largest asset manager, to provide key infrastructure for its newly launched tokenized investment fund. The fund, called the Blackrock USD Institutional Digital Liquidity Fund (BUIDL), will be issued on a public blockchain in collaboration with Securitize Markets. Coinbase Institutional announced on social media that it has been chosen as a key infrastructure provider for the new fund, highlighting its commitment to connecting institutions to the crypto industry and supporting the growing tokenization sector. The BUIDL fund will allow qualified investors to earn U.S. dollar yields by subscribing on the blockchain, offering a stable value of $1 per token and paying daily accrued dividends directly to investors’ wallets. In addition to this partnership, Coinbase also provides custody services for Blackrock’s bitcoin holdings and is preparing for the launch of Blackrock’s Ishares Ethereum Trust.