BlackRock USD (BUIDL)
BlackRock USD refers to the BlackRock USD Institutional Digital Liquidity Fund, widely known as BUIDL, tokenized in partnership with Securitize. It is best understood not as a retail stablecoin but as a tokenized money-market-style fund that holds a stable $1 value per token and distributes yield to holders. Our data shows a market capitalization of about $2.64B across 8 chains, and it ranks 7th of 15 in our stablecoin ratings with a best score of 8.38.
How stable is it?
Our latest measurement shows a peg deviation of 0.00% from $1. BUIDL is designed to maintain a constant $1 token value, with accrued yield paid out to holders (historically as additional tokens) rather than by letting the price float upward. That distinguishes it from yield tokens whose price rises above a dollar.
What backs it?
BUIDL is backed by a fund holding cash, US Treasury bills, and repurchase agreements, managed within BlackRock's asset-management framework and issued on-chain via Securitize. Access is restricted to qualified/institutional investors under securities rules, so this is not a token most retail users can freely mint or redeem. We assess on-chain price behavior and reach; we do not audit the fund's holdings.
Important distinctions
- Securities framework: BUIDL is a tokenized fund with investor eligibility restrictions, not an open payments token.
- Institutional access: Minting and redemption run through Securitize with KYC and minimums.
- Rate exposure: Yield and stability track short-term Treasury markets.
- No public status page was found.
Why it appears among stablecoins
BUIDL is listed in the stablecoin category because it functions as an on-chain dollar unit, but its securities structure, eligibility limits, and yield-distribution design set it apart from tokens like USDC. Our 8.38 composite reflects its scale, perfect measured peg, and eight-chain reach, with the usual deduction for the absence of a public status page. For readers comparing options, the practical distinction is simple: BUIDL is a tokenized fund for qualified investors, not a token you would use to pay for everyday goods.
Who is it for?
BUIDL suits institutions and qualified investors seeking on-chain access to a conservative, yield-generating dollar fund. It is not intended for everyday retail payments or DeFi speculation.