Fidelity, BlackRock Boost Blockchain and Crypto Efforts

Fidelity Investments has announced the launch of a crypto stablecoin, sparking a significant surge in the cryptocurrency market, with Bitcoin and Ethereum experiencing notable price increases. Concurrently, Fidelity has filed with the SEC to tokenize its US Treasury Fund on Ethereum, highlighting growing institutional adoption of blockchain technology. BlackRock has expanded its tokenized money market fund BUIDL to Solana, reflecting the increasing integration of blockchain in traditional finance and driving Solana's token value up. BUIDL, now operating on seven blockchains, has amassed over $1.7 billion in assets, underscoring the demand for tokenized real-world assets. These developments signify a major step towards the mainstream adoption of blockchain and tokenized financial products by traditional financial institutions.