<p>黑石集团首个代币化货币市场基金自推出以来已支付 1 亿美元的累计分红，突显了在机构采用不断上升的背景下，代币化证券在现实世界中的日益应用。</p>
<p>这一里程碑是由 Securitize 于周一宣布的，该公司作为基金的发行人和代币化合作伙伴，负责链上发行和投资者入驻。</p>
<p>BUIDL 于 2024 年 3 月推出，最初在以太坊区块链上发行。该基金投资于以美元计价的短期资产，包括美国国债、回购协议和现金等价物，为机构投资者提供了一种基于区块链的收益获取工具，同时保持流动性。</p>
<p>投资者购买与美元挂钩的 BUIDL 代币，并直接在链上接收分红，反映出来自基础资产的收入。</p>
<p>自在以太坊首次亮相以来，BUIDL 已扩展到包括 Solana、Aptos、Avalanche 和 Optimism 在内的六个额外区块链。</p>
<p>1 亿美元的里程碑值得注意，因为它代表了来自实际国债收益的终身支付，分配给链上基金代币的持有者。这表明代币化证券可以在规模上运作，同时反映传统金融产品的核心功能。</p>
<p>这一发展还强调了区块链技术所带来的运营效率，包括更快的结算、透明的所有权记录和可编程的分配，这些特性越来越吸引大型资产管理公司和探索代币化现实资产的机构投资者的关注。</p>
<p>尤其是 BUIDL，已见强劲采用，今年早些时候代币化基金的价值超过 20 亿美元。</p>
<p><strong>代币化货币市场基金获得关注与审查</strong></p>
<p>代币化货币市场基金迅速成为链上现实世界资产市场中增长最快的细分领域之一，原因显而易见。它们的吸引力在于能够以更高的运营效率提供货币市场风格的回报，这一动态开始引起传统金融机构的关注。</p>
<p>一些市场参与者将这些产品视为对预期稳定币增长的潜在对冲。</p>
<p>在 7 月，摩根大通策略师 Teresa Ho 表示，代币化货币市场基金保留了 “现金作为资产” 的长期吸引力，即使监管发展如 GENIUS 法案的批准预计将加速稳定币的采用，并可能削弱现金类工具的作用。</p>
<p>尽管快速增长，代币化货币市场基金也吸引了行业的审查。国际清算银行最近警告称，这类产品可能引入运营和流动性风险，特别是在它们成为数字资产生态系统中越来越重要的抵押品来源时。</p>
<p>_<strong>相关：</strong> 现实世界资产在去中心化交易所中超越，成为 DeFi 中按总锁仓价值计算的第五大类别。</p>

<p>贝莱德的美元机构数字流动性基金（BUIDL）自 2024 年 3 月推出以来，已实现 1 亿美元的累计分红，标志着代币化金融的重要里程碑。该基金投资于以美元计价的资产，允许机构投资者通过区块链技术获得收益。BUIDL 已扩展至多个区块链，价值超过 20 亿美元。尽管代币化货币市场基金正在获得关注，但它们面临着国际清算银行所强调的运营和流动性风险的审查</p>

<p>BlackRock’s first tokenized money market fund has paid out $100 million in cumulative dividends since its launch, highlighting the growing real-world use of tokenized securities amid rising institutional adoption.</p>
<div class="lb-trans"><p>黑石集团首个代币化货币市场基金自推出以来已支付 1 亿美元的累计分红，突显了在机构采用不断上升的背景下，代币化证券在现实世界中的日益应用。</p>
</div><p>The milestone for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was announced Monday by Securitize, which serves as the fund’s issuer and tokenization partner, overseeing onchain issuance and investor onboarding.</p>
<div class="lb-trans"><p>这一里程碑是由 Securitize 于周一宣布的，该公司作为基金的发行人和代币化合作伙伴，负责链上发行和投资者入驻。</p>
</div><p>Launched in March 2024, BUIDL was initially issued on the Ethereum blockchain. The fund invests in short-term, US dollar–denominated assets, including US Treasury bills, repurchase agreements and cash equivalents, offering institutional investors a blockchain-based vehicle to earn yield while maintaining liquidity.</p>
<div class="lb-trans"><p>BUIDL 于 2024 年 3 月推出，最初在以太坊区块链上发行。该基金投资于以美元计价的短期资产，包括美国国债、回购协议和现金等价物，为机构投资者提供了一种基于区块链的收益获取工具，同时保持流动性。</p>
</div><p>Investors purchase BUIDL tokens pegged to the U.S. dollar and receive dividend distributions directly onchain, reflecting income generated from the underlying assets.</p>
<div class="lb-trans"><p>投资者购买与美元挂钩的 BUIDL 代币，并直接在链上接收分红，反映出来自基础资产的收入。</p>
</div><p>Since its debut on Ethereum, BUIDL has expanded to six additional blockchains, including Solana, Aptos, Avalanche and Optimism.</p>
<div class="lb-trans"><p>自在以太坊首次亮相以来，BUIDL 已扩展到包括 Solana、Aptos、Avalanche 和 Optimism 在内的六个额外区块链。</p>
</div><p>The $100 million milestone is notable because it represents lifetime payouts derived from actual Treasury yields distributed to holders of onchain fund tokens. It demonstrates that tokenized securities can operate at scale while mirroring the core functions of traditional financial products.</p>
<div class="lb-trans"><p>1 亿美元的里程碑值得注意，因为它代表了来自实际国债收益的终身支付，分配给链上基金代币的持有者。这表明代币化证券可以在规模上运作，同时反映传统金融产品的核心功能。</p>
</div><p>The development also underscores the operational efficiencies enabled by blockchain technology, including faster settlement, transparent ownership records and programmable distributions, features that are increasingly drawing interest from large asset managers and institutional investors exploring tokenized real-world assets.</p>
<div class="lb-trans"><p>这一发展还强调了区块链技术所带来的运营效率，包括更快的结算、透明的所有权记录和可编程的分配，这些特性越来越吸引大型资产管理公司和探索代币化现实资产的机构投资者的关注。</p>
</div><p>BUIDL, in particular, has seen strong adoption, with the value of the tokenized fund surpassing $2 billion earlier this year.</p>
<div class="lb-trans"><p>尤其是 BUIDL，已见强劲采用，今年早些时候代币化基金的价值超过 20 亿美元。</p>
</div><p><strong>Tokenized money market funds gain traction and scrutiny</strong></p>
<div class="lb-trans"><p><strong>代币化货币市场基金获得关注与审查</strong></p>
</div><p>Tokenized money market funds have quickly emerged as one of the fastest-growing segments of the onchain RWA market, and for good reason. Their appeal lies in their ability to deliver money market–style returns with greater operational efficiency, a dynamic that has begun to draw attention from traditional financial institutions.</p>
<div class="lb-trans"><p>代币化货币市场基金迅速成为链上现实世界资产市场中增长最快的细分领域之一，原因显而易见。它们的吸引力在于能够以更高的运营效率提供货币市场风格的回报，这一动态开始引起传统金融机构的关注。</p>
</div><p>Some market participants view these products as a potential counterweight to the anticipated growth of stablecoins.</p>
<div class="lb-trans"><p>一些市场参与者将这些产品视为对预期稳定币增长的潜在对冲。</p>
</div><p>In July, J.P. Morgan strategist Teresa Ho said tokenized money market funds preserve the longstanding appeal of “cash as an asset,” even as regulatory developments such as the approval of the GENIUS Act were expected to accelerate stablecoin adoption and potentially erode the role of cash-like instruments.</p>
<div class="lb-trans"><p>在 7 月，摩根大通策略师 Teresa Ho 表示，代币化货币市场基金保留了 “现金作为资产” 的长期吸引力，即使监管发展如 GENIUS 法案的批准预计将加速稳定币的采用，并可能削弱现金类工具的作用。</p>
</div><p>Despite their rapid growth, tokenized money market funds have also attracted industry scrutiny. The Bank for International Settlements recently warned that such products could introduce operational and liquidity risks, particularly as they become an increasingly important source of collateral within the digital asset ecosystem.</p>
<div class="lb-trans"><p>尽管快速增长，代币化货币市场基金也吸引了行业的审查。国际清算银行最近警告称，这类产品可能引入运营和流动性风险，特别是在它们成为数字资产生态系统中越来越重要的抵押品来源时。</p>
</div><p><em><strong>Related:</strong></em> Real-world assets top DEXs to become 5th-largest category in DeFi by TVL</p>
<div class="lb-trans"><p>_<strong>相关：</strong> 现实世界资产在去中心化交易所中超越，成为 DeFi 中按总锁仓价值计算的第五大类别。</p>
</div>

贝莱德的 BUIDL 支付额达到 1 亿美元，展示了代币化金融的规模化应用