Who's Building It

Treasuries · Lesson 4.2

Three kinds of firms build tokenized Treasury products. Established asset managers tokenize funds they already run, such as BlackRock's BUIDL and Franklin Templeton's BENJI. Newer, crypto-native issuers such as Ondo and Superstate build funds for onchain distribution and work with partners for custody, administration and compliance. Behind both, tokenization platforms and transfer agents such as Securitize issue the tokens, keep the ownership records and enforce who is allowed to hold them.

Wally’s note: three roles, many names

Examples, not a complete list.

Check whether you hold the fund's own share token or a separate product that holds those shares for you.

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