BlackRock, the world’s largest asset manager, announced on March 30, 2026, the formal integration of Chronicle’s Proof-of-Asset (PoA) system into its tokenized BlackRock USD Institutional Digital Liquidity Fund, commonly referred to as BUIDL. The integration is designed to provide institutional participants with real-time, cryptographic verification of the fund’s underlying collateral, marking a technical milestone in the firm’s digital asset strategy.
The BUIDL fund, which operates on the Ethereum blockchain, primarily invests in cash, U.S. Treasury bills, and repurchase agreements. By utilizing Chronicle’s decentralized oracle infrastructure, BlackRock can now provide an automated, on-chain feed that validates the fund’s Net Asset Value (NAV) and ensures that the tokenized shares are backed by physical assets at a 1:1 ratio. This system replaces the traditional reliance on delayed, manual attestations with a continuous data stream accessible to all authorized network participants.
Robert Mitchnick, BlackRock’s Head of Digital Assets, stated that the integration is a direct response to institutional demand for greater transparency in the tokenized asset space. Mitchnick noted that providing a verifiable link between off-chain custodial holdings and on-chain tokens is essential for the broader adoption of blockchain-based financial products. According to official statements, the Chronicle PoA system will update asset data at high frequencies, allowing for near-instantaneous audits of the fund’s liquidity and solvency.
Chronicle, originally developed as the oracle solution for the MakerDAO ecosystem, provides the technical framework for this verification. Niklas Kunkel, founder of Chronicle, stated that the partnership demonstrates the capacity of decentralized oracle networks to handle the rigorous security and compliance requirements of multi-billion dollar institutional funds. The system utilizes a peer-to-peer network of independent validators to ensure the integrity of the data being reported to the blockchain.
Since its inception, the BUIDL fund has served as a primary vehicle for BlackRock’s expansion into real-world asset (RWA) tokenization. As of March 2026, the fund has maintained its position as a leading institutional liquidity pool on-chain, supported by its transfer agent Securitize and its custodian BNY. The addition of Chronicle’s Proof-of-Asset system is intended to streamline risk management and compliance workflows for global financial institutions that utilize BUIDL for treasury management and collateral purposes.
The move reflects a broader industry shift toward 'always-on' transparency in fund management. By automating the verification process, BlackRock aims to reduce operational friction and provide a higher level of assurance regarding the existence and valuation of the fund’s underlying U.S. Treasury holdings.