BlackRock USD Institutional Digital Liquidity Fund

BUIDLRWA (Restricted)

Token Overview

Total Supply (All Chains)

$1.78B

Issuer

BlackRock

Transfer Agent

Securitize

Custodian

BNY Mellon

Underlying Assets

US Treasury BillsCashRepurchase Agreements

Primary Record

Offchain

Secondary Record

Onchain

Used In

OUSGBUIDL is used as the primary asset backing OUSG by Ondo Finance.
USDtbBUIDL is used as the primary asset backing USDtb by Ethena Labs.

Risk Architecture

Critical Roles

Master ActorcriticalEOA0xe01605...25b09e

An EOA that can upgrade all Securitize contracts across all chains, effectively controlling all operations around the token.

Dependencies

The operators in the following introduce additional trust assumptions:

Expand each layer below to learn more.

Token Metrics

56Active Holders

Common flows

1. Onboarding

How an investor gets permission to get the token.

Investor submits KYC docs -> Securitize verifies & approves.
Securitize sends a transaction to update the Master List.
Registry Contract adds the Investor's Wallet Address to the Allowlist.
Status: Wallet is now "Active."

2. Issuance

How fiat dollars are converted to BUIDL.

Investor wires USD amount -> Bank Custodian confirms receipt.
Securitize triggers the 'Mint' command.
Token Contract checks the Registry for investors' status (is it whitelisted, is the amount within the limits, etc.) -> Mints BUIDL tokens to Investor Wallet.

3. Transfer

Moving tokens across wallets

Investor A clicks "Send" on the dashboard.
Transaction signed and broadcast to the network.
Token Contract intercepts the move -> Queries Registry automatically for investors' status (is it whitelisted, is the amount within the limits, etc.)
Settlement: IF PASS -> Tokens move instantly. IF FAIL -> Transaction reverts (bounces).

4. Bridging

Moving funds between chains.

Investor requests to bridge
Securitize sees the request to bridge
[Source] Securitize operator takes tokens and BURNS them (destroys value on source).
Tokens are either manually minted on destination chain or through a Wormhole relayer that validates the 'Burn' event and issues them on destination.
Destination contract verifies the message -> MINTS new tokens to the user's wallet.

Investors Distribution

Investor presence and asset distribution across verified chains

Total Value

$2.01B53 Active Investors

Geographic Spread

16Jurisdictions

Active Wallets

84Across all chains

Cross-Chain

3Investors on 2+ chains

Investor 2c32...773c$506.66M25.2%
Investor 5c01...3c16$481.14M23.9%
Investor 6889...34af$377.69M18.8%
Investor f89d...c5cf$150.92M7.5%
Investor 61e4...ffd3$135.63M6.7%
Investor 6939...2264$61.37M3.0%
Investor 9534...eecf$53.93M2.7%
Investor 8793...6c92$37.1M1.8%
Investor 8ca0...4cb4$28.91M1.4%
Others$179.45M8.8%

Registry· 53

Identity
2c32...773c
🇺🇸United States·1@BNB Chain icon
$506.66M
5c01...3c16
🇰🇾Cayman Islands·1@Ethereum icon
$481.14M
6889...34af
🇺🇸United States·1@Solana icon
$377.69M
f89d...c5cf
🇺🇸United States·1@Solana icon
$150.92M
61e4...ffd3
🇦🇪United Arab Emirates·1@Ethereum icon
$135.63M
6939...2264
🇺🇸United States·1@Avalanche icon
$61.37M
9534...eecf
🇺🇸United States·1@Ethereum icon
$53.93M
8793...6c92
🇻🇬British Virgin Islands·1@Avalanche icon
$37.1M
8ca0...4cb4
🇺🇸United States·1@Aptos icon
$28.91M
3c1f...2517
🇰🇾Cayman Islands·3@Arbitrum icon
$27.08M

Onchain Deployments

Deployment Network

Circle size represents Total Supply. Hover over connections to see bridge details.

ChainAddressTotal SupplyInvestors
BNB Chain iconBNB Chain
0x2d5bdc...5ef84f$504.0M
3
4 wallets
Ethereum iconEthereum
0x6a9da2...c89041$325.2M
4
4 wallets
Aptos iconAptos
0x50038b...945f89$306M
2
2 wallets
Solana iconSolana
GyWgeqpy...Mw6phr$254.7M
4
4 wallets
Ethereum iconEthereum
0x7712c3...aA2AEc$174.1M
41
57 wallets
Avalanche iconAvalanche
0x53FC82...196A2F$138.2M
4
5 wallets
Arbitrum iconArbitrum
0xA6525A...925872$31.2M
2
4 wallets
Optimism iconOptimism
0xa1CDAb...957cF5$26.1M
2
2 wallets
Polygon iconPolygon
0x2893Ef...Dc0e99$18.8M
6
9 wallets

Wallets

(73 addresses)
#TxAddressChainsBalanceShare
10x2004f7f7...c5e98451Avalanche iconBNB Chain iconEthereum icon$579.70M
48.5%
20x491edfb0...30f3a44eEthereum icon$178.71M
15.0%
30x68a99f89...e255dff1Ethereum icon$144.36M
12.1%
40xed71aa0d...49a5cf72Ethereum icon$53.49M
4.5%
50x121c5f97...2bf1aa91Avalanche icon$36.77M
3.1%
60xd06fc8c1...12342d29Optimism icon$26.06M
2.2%
70x71374270...3a51a258Ethereum icon$25.16M
2.1%
80x7f4e4384...52082fbbArbitrum icon$20.50M
1.7%
90xe827abf9...186e4e9cEthereum icon$15.44M
1.3%
100xb48cfe40...cf3acc32Ethereum icon$12.00M
1.0%
110x8532b5c9...240c55a4Polygon icon$10.45M
0.9%
120x54fe3425...4c46fca2Arbitrum icon$9.95M
0.8%
130x895e8734...44bc7b43Polygon icon$9.75M
0.8%
140x12c0de58...29adb0b4Ethereum icon$9.13M
0.8%
150xf19a4fcc...845a49e8Ethereum icon$8.74M
0.7%

Transaction History

(5,513 transactions)
Chain:
Event:
ChainHashEventsValueTime
Solana4VNZ3yKMzi...
Transfer
20003/20/2026, 14:51:41
SolanaXqocNn6D4U...
Yield
20003/20/2026, 14:38:24
Solanams7ZvXEj5p...
Yield
103/20/2026, 14:37:51
Bnbchain0xaa617036...
Yield
48,24903/20/2026, 14:37:25
Arbitrum0x8a08da70...
Yield
2,34203/20/2026, 14:37:07
Aptos0xf4cbf691...
Yield
2,73803/20/2026, 14:36:14
Optimism0x243f65bc...
Yield
2,27203/20/2026, 14:36:01
Avalanche0xa42be580...
Yield
2103/20/2026, 14:35:38
Polygon0x7b6b066c...
Yield
3003/20/2026, 14:35:19
Ethereum0xcd457899...
Yield
29603/20/2026, 14:35:11
Ethereum0xeee4de67...
Yield
12,95303/20/2026, 14:34:47
Solana4Di7gn6Ksk...
Transfer
20003/19/2026, 14:51:41
Solana3g3GS5e7VC...
Yield
14,28003/19/2026, 14:37:55
Solana38Ad52xBv3...
Yield
25703/19/2026, 14:37:05
Bnbchain0xc61707b5...
Yield
48,21503/19/2026, 14:36:35
Arbitrum0xbe0dee92...
Yield
2,34003/19/2026, 14:36:21
Aptos0x87e4de84...
Yield
2,73603/19/2026, 14:35:35
Optimism0x08a23007...
Yield
2,27003/19/2026, 14:35:15
Avalanche0x060f40f1...
Yield
3,51103/19/2026, 14:35:04
Polygon0xe95f5b74...
Yield
48003/19/2026, 14:34:31

Regulatory Compliance

Applies to securities with >$10M in assets.

Private Offering Exemption - Holder Limit73 / 2,000
01,5001,900

Maintains private offering status under Section 12(g) exemption. Must stay below 2,000 beneficial owners to avoid SEC registration requirement.