Ondo Price Spikes 5% as Ondo Finance Tests Instant USDC Redemption From BlackRock (BLK) BUIDL Fund

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Tyler Spalding, CEO / Co-Founder, Flexa, 2Chainz and Zack Seward, Deputy Editor-in-Chief, CoinDesk
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The BlackRock USD Institutional Digital Liquidity Fund, created with tokenization firm Securitize, holds cash, U.S. Treasury bills and repurchase agreements. Investment in the fund is represented by the Ethereum-based BUIDL token, which provides yield paid out via blockchain rails every day to token holders.

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