BlackRock’s BUIDL Fund Boosts Transparency with Chronicle Verification

• BlackRock's BUIDL fund has integrated Chronicle's Proof of Asset system to provide real-time, independent verification of its holdings.
• The fund is currently the largest on-chain Treasuries vehicle, managing approximately $1.7 billion in assets including U.S. Treasuries and cash.
• This move aims to increase transparency for institutional investors by offering granular data on asset valuation, composition, and custody.

Advanced Transparency for Institutional Liquidity

The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), issued by Securitize, has adopted a new verification layer powered by the oracle provider Chronicle. Through the Chronicle Proof of Asset system, the fund now offers independently verified, holdings-level data. This mechanism is designed to provide continuous attestation regarding the availability, freshness, and integrity of the fund's asset composition, which is accessible via a dedicated dashboard.

Carlos Domingo, CEO and co-founder of Securitize, emphasized that tokenization only reaches its full potential when investors and protocols can independently verify the underlying assets. By incorporating this system, BUIDL is positioned as a data-driven financial instrument specifically designed for global institutional use.

Strengthening the Verification Infrastructure

Chronicle Proof of Asset serves as an institutional-grade oracle layer that sources data directly from administrators and custodians. This infrastructure allows for a deeper level of insight than traditional data feeds, covering several critical areas:

• Valuation and existence of the assets backing the token.
• Asset composition including Treasuries and overnight repos.
• Custody status and independent attestations of holdings.

Niklas Kunkel, the founder of Chronicle, described the system as an "integrity layer" that provides the granular assurances required by risk teams and asset managers. According to Robert Mitchnik, Head of Digital Assets at BlackRock, this system grants platforms and allocators much-needed visibility into how tokenized assets are evaluated and utilized within the ecosystem.

Market Impact and Ecosystem Growth

The integration comes as the broader industry seeks better ways to bring off-chain data onto the blockchain. Recent similar moves include Coinbase utilizing Chainlink's DataLink tool for its trading data. Chronicle currently secures approximately $5 billion in total value, supporting other major entities such as the Janus Henderson Anemoy Treasury Fund (JTRSY) and Superstate’s USTB.

While Securitize previously appointed RedStone as a primary data provider for various funds, Kunkel noted that Proof of Asset represents a fundamental shift. Unlike providers that focus strictly on price or Net Asset Value (NAV) data, this new infrastructure is designed to provide a comprehensive verification layer that did not previously exist in the tokenized finance market.