Ripple and Securitize have enabled smart contract functionality for BlackRock’s tokenised USD Institutional Digital Liquidity Fund (BUIDL), allowing investors to exchange shares for Ripple USD (RLUSD), a regulated stablecoin issued under New York oversight. VanEck’s VBILL fund is expected to follow.
The integration allows 24/7 conversion of fund shares into RLUSD, unlocking programmable liquidity and on-chain settlement for institutional investors. RLUSD, backed 1:1 by high-quality liquid assets, has surpassed $700m in market capitalisation since its launch in late 2024 and is integrated into Ripple’s cross-border payments solution.
“This is a major step forward in making tokenised assets more usable and accessible,” said Carlos Domingo, CEO of Securitize. “We’re proud to be the first to enable this functionality for tokenised funds, starting with BlackRock’s BUIDL and VanEck’s VBILL.”
Securitize, which manages over $4bn in tokenised assets, said the partnership enables real-time settlement and liquidity automation for a new class of compliant digital investment products. The firm is incorporating RLUSD into its infrastructure and expanding access via the XRP Ledger.
Anthony Ripley, head of tokenization at Ripple, added: “This milestone demonstrates how regulated stablecoins like RLUSD can enhance liquidity and efficiency in digital asset markets. It’s a clear example of blockchain delivering real-world utility.”
BlackRock’s participation adds RLUSD functionality to one of the largest tokenised funds currently live on public blockchain infrastructure. The development expands off-ramp options for investors and introduces new mechanisms for settlement and liquidity in tokenised fund structures.
