US Treasury Debt

The investment objective of the BlackRock USD Institutional Digital Liquidity Fund Ltd. is to seek current income as is consistent with liquidity and stability of principal.

Bank of New York Mellon

SEC - U.S. Securities and Exchange Commission

BlackRock USD Institutional Digital Liquidity Fund

United States of America

BlackRock

Securitize

US Dollar

Submit redemption request on the Securitize website to redeem tokens Tokens must be received in the Transfer Agent’s redemption wallet address before 3:00 PM ET Transfer Agent instructs USD redemption to client’s wire instructions on file. USD redemptions are processed through BUIDL fund.

Once a Securitize account is set up, indicate a desire to subscribe on the Securitize website Complete the remaining AML/KYC requirements, provide requested information and sign the Fund subscription agreements Upon approval by the Transfer Agent, the investor is notified via email that they are whitelisted Follow the link in the email to the Securitize website to view the Fund’s wire instructions. USD wires must be received before 2:30 PM ET on any business day subscriptions are placed Transfer Agent mints BUIDL tokens to the investor’s wallet upon notification of funds received.

Submit redemption request on the Securitize website to redeem tokens Tokens must be received in the Transfer Agent’s redemption wallet address before 3:00 PM ET Transfer Agent instructs USD redemption to client’s wire instructions on file. USDC redemptions are processed through service providers

Must be accredited investor and qualified purchaser. US individuals not allowed.

Wormhole NTT

Ethereum BUIDL

Ethereum

Ondo

Transferable on-chain to other whitelisted wallet addresses.

Avalanche BUIDL

Avalanche

Aptos BUIDL

Aptos

Polygon BUIDL

Polygon

Arbitrum BUIDL

Arbitrum

Optimism BUIDL

Optimism

Solana BUIDL

Solana

Securitize Markets

Stablecoins

Ethereum M

OpenTrade (Perimeter Protocol)

Plume M

Plume

An equivalent amount of U.S. dollar-denominated assets are held by Agora in segregated accounts with U.S. regulated financial services institutions.

AUSD is a centralized,1:1 fiat-backed stablecoin.  AUSD is backed by Agora's Reserves, which include traditional currency and cash equivalents, such as overnight reverse repo and short-term U.S. Treasury securities. The Agora Reserve Fund cash custodian and fund administrator is a designated G-SIB and one of the largest global custodians.

State Street

Agora

VanEck Associates Corporation

AUSD

Ethereum AUSD

Ethena

Agora Ledger

Avalanche AUSD

Solana AUSD

Mantle AUSD

Mantle

Institutional Alternative Funds

WithumSmith+Brown

Securitize Tokenized Apollo Diversified Credit Fund, Ltd. is a tokenized fund that invests substantially all of its investable assets in Apollo Diversified Credit Fund. The principal investment strategy of the Underlying Fund is, as described in the Underlying Fund Offering Documents, to pursue a “multi-asset” investment approach across private and public credit markets centered around five key strategy pillars: (1) corporate direct lending, (2) asset-backed lending, (3) performing credit, (4) dislocated credit and (5) structured credit.

British Virgin Islands

Securitize Tokenized Apollo Diversified Credit Fund

Securitize Capital

Apollo Diversified Credit Securitize Fund

Ethereum ACRED

Solana ACRED

Aptos ACRED

Avalanche ACRED

Silicon Valley Bank

Earn stable yield with daily liquidity by investing in short-term U.S. Treasuries via blockchain.

VanEck Treasury Fund

VanEck Absolute Return Advisers Corporation

Liquidity via a smart contract swap is potentially available through 3rd party providers. Redemptions directly through the fund are available on a daily basis. Liquidity and redemptions may be subject to delays due to market conditions or blockchain settlement mechanics.

The Securitize subscription process is similar to other investment platforms. Once you verify your identity, you can quickly invest in offerings without having to go through the same onboarding process again.

VBILL adheres to high KYC/AML standards and only permits token transfers to whitelisted investors.

Ethereum VBILL

Binance Smart Chain VBILL

Binance Smart Chain

Solana VBILL

Avalanche VBILL

ETH reserves are fully segregated for the benefit of DAI holders and vault owners.

USDS is the native stablecoin of the decentralized Sky Protocol, designed as the upgraded version of DAI. It remains pegged to the U.S. dollar and powers Sky’s ecosystem features such as the Sky Savings Rate (SSR) and Sky Token Rewards (STRs). All operations are non‑custodial, meaning you retain full control of your funds.

The Emergency Shutdown Process of Multi-Collateral DAI (MCD) allows DAI Holders and Vault users to receive the net value of assets they are entitled to, even in circumstances of an emergency shutdown of the protocol.

USDS

S&P Global Ratings

Solana USDS

Richey May & Co

Hamilton Lane’s Senior Credit Opportunities Fund (SCOPE) is an evergreen fund seeking to provide investors with senior secured private credit exposure paying current income. The Fund is intended for investors seeking potential diversification and yield during both favorable and unfavorable market conditions with a strategy that is primarily focused on generating capital appreciation over the medium and long term, with the added benefit of automated compounding reinvestment and on-demand redemptions if investors need their cash back.

Stonegate Global Fund Administration LLC

Hamilton Lane SCOPE Securitize Tokenized Feeder Fund

Hamilton Lane Senior Credit Opportunities Securitize Fund

	General Partner (Hamilton Lane) may unilaterally extend up to two successive one-year periods.

Polygon HLSCOPE

Ethereum HLSCOPE

Optimism HLSCOPE

Each Limited Partner will also receive unaudited reports of Partnership activity on amonthly basis (including all gains and losses in each Limited Partner’s Capital Accountand the Net Asset Value of such Capital Account) and such other information as the GP determines. The GP will not be required to provide information with regard to specific investment transactions of the Partnership

Carvalho, Machado E Timm Advogados

Transfero Gestão de Ativos Digitais, Transfero Brazil, Transfero FL AG

Underlying assets held in accounts controlled by Transfero Brazi.

Transfero

Transfero: BRZ

Brazilian Real

Ethereum BRZ

Tether does not maintain segregated accounts for assets held on behalf of USDT holders. Tether’s assets are distributed across several associated entities. These assets are not bankruptcy remote

BDO Italia

Cantor Fitzgerald, Deltec Bank & Trust, Ansbacher Limited, Capital Union Bank, Far East International Bank, Capital Union, Others.

USDT is Tether’s stablecoin that is pegged 1:1 to the U.S. dollar. It was launched in 2014 and is backed by Tether’s reserves. It offers price stability, fast and low-cost transfers, and high liquidity.

FinCEN - Financial Crimes Enforcement Network

Tether Holdings

Tether USDt

Bluechip

Aptos USDT

BRLA

Portal

An equivalent amount of US dollar-denominated assets is held by Circle with US-regulated financial institutions in segregated accounts apart from Circle’s corporate funds, on behalf of, and for the benefit of, users.

Deloitte

USDC is a regulated digital dollar issued by Circle, designed to maintain a value of 1 US dollar per token. It's a stablecoin that is 100% backed by highly liquid cash and cash‑equivalent assets, fully redeemable on a 1:1 basis for U.S. dollar.

The USDC reserves are held in segregated accounts, for the benefit of USDC holders, all entirely separate from Circle’s operations. The USDC reserves are bankruptcy remote – they are afforded protections under U.S. laws and would not form part of the creditor’s estate in the unlikely event of a Circle bankruptcy. 

Circle International

USDC

Aptos USDC

The Bank of New York Mellon Mutual Funds

Tether facilitates fiat currency use digitally on a blockchain, disrupting traditional finance. It enables transactions with stable, familiar currencies on the blockchain, reducing typical digital currency volatility and complexity, and eases cross-border transactions.

USYC lets you earn short-term Fed rate returns. Assets are deployed in reverse repo, with some allocated to T-Bills, to ensure maximum liquidity and minimum duration risk. 

Aptos is a Layer 1 blockchain developed by former Meta engineers that leverages the Move programming language and a parallel execution engine to achieve its performance. Launched in 2022, the platform implements a Block-STM technology that enables parallel transaction processing and instant finality, powered by its native token APT.

Wormhole is the leading interoperability platform connecting traditional finance and the internet economy. Wormhole is #1 globally by volume with over $60 billion in cross-chain volume and is trusted and used by leading teams like BlackRock, Apollo Global, VanEck, Janus Henderson, Circle, Securitize, and Uniswap. Wormhole’s suite of products allows developers, institutions, and users to securely and seamlessly move any assets and data between over 40 leading blockchain networks. Learn more at wormhole.com.

#	Protocol	RWA Count	Market Cap	30D%	Market Share
1	Securitize	19	$2,476.8M	▼17.30%	84.74% ▼
2	M0	2	$266.6M	▼15.72%	9.12% ▲
3	Agora Ledger	4	$113.9M	▲8.42%	3.90% ▲
4	Sky	1	$59.2M	▼13.11%	2.02% ▲
5	Portal	2	$3.9M	▲0.02%	0.13% ▲
6	Transfero	1	$2.6M	▲2.28%	0.09% ▲
—	—	—	—	—	—
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Name	Protocol	Networks	Ticker	Asset Class	RWA MTAUM	Monthly Crosschain Volume	Holders Login to Unlock	Domicile Login to Unlock	License or Regulatory Framework Login to Unlock	Contract Address Login to Unlock
BlackRock USD Institutional Digital Liquidity Fund	Securitize Powered byNTT		BUIDL	U.S. Treasuries	$2,295,291,024 ▼	—	85 ▲	British Virgin Islands	U.S. Securities Act Reg. D Exemption SEC - U.S. Securities and Exchange Commission	8 Addresses
M	M0 Powered byNTT		M	Stablecoins	$266,634,632 ▼	—	56 △	N/A	—	2 Addresses
AUSD	Agora Ledger Powered byNTT		AUSD	Stablecoins	$113,866,625 ▼	$2,001 △	45,312 ▲	British Virgin Islands	—	4 Addresses
Apollo Diversified Credit Securitize Fund	Securitize Powered byNTT		ACRED	Institutional Funds	$100,130,431 ▲	—	25 ▲	British Virgin Islands	U.S. Securities Act Reg. D Exemption SEC - U.S. Securities and Exchange Commission	4 Addresses
VanEck Treasury Fund	Securitize Powered byNTT		VBILL	U.S. Treasuries	$83,721,423 ▲	—	13 ▲	British Virgin Islands	—	4 Addresses
USDS	Sky Powered byNTT	Solana	USDS	Stablecoins	$59,186,006 ▼	$9,019,377 ▲	10,307 ▲	N/A	Non-Regulated	USDSw...1vTwcA
Hamilton Lane Senior Credit Opportunities Securitize Fund	Securitize Powered byNTT		HLSCOPE	Institutional Funds	$9,637,655 ▲	—	45 ▲	United States of America	U.S. Securities Act Reg. D Exemption SEC - U.S. Securities and Exchange Commission	3 Addresses
Transfero: BRZ	Transfero Powered byNTT	Ethereum	BRZ	Stablecoins	$2,575,858 ▲	—	283 ▲	Switzerland	—	0x01d...0b1839
Tether USDt	Portal	Aptos	USDT	Stablecoins	$2,390,503 △	—	36,490 ▲	British Virgin Islands	U.S. Money Services Business FinCEN - Financial Crimes Enforcement Network	0xa2e...oin::T
USDC	Portal	Aptos	USDC	Stablecoins	$1,474,236 △	—	86,928 ▲	Bermuda	U.S. Money Services Business FinCEN - Financial Crimes Enforcement Network	0x5e1...oin::T