Mountain Protocol Backed by BlackRock’s BUIDL Fund

 

Manta Network is proud to announce that the on-chain yield-bearing stablecoin, wUSDM, deployed by Mountain Protocol on Manta Pacific, is now backed by BlackRock’s BUIDL Fund and facilitated through Securitize, BlackRock’s transfer agent and tokenization platform for BUIDL. This marks a new chapter in the long-term growth and security of all holders of wUSDM.

The BUIDL Fund (BlackRock USD Institutional Digital Liquidity Fund) represents BlackRock’s commitment to integrating blockchain technology with traditional financial assets. The BUIDL Fund offers a stable value of $1 per token and pays daily accrued dividends directly to investors’ wallets as new tokens each month. It invests 100% of its assets in cash, U.S. Treasury bills, and repurchase agreements, ensuring secure and transparent yield generation on the blockchain. Manta Network is proud to be one of the early adopters of the BUIDL Fund by supporting its backed assets through the on-chain yield-bearing stablecoin.

source: https://mantanetwork.medium.com/manta-networks-wusdm-via-mountain-protocol-backed-by-blackrock-s-buidl-fund-71d6a38085ca