随着金融公司深入探索链上证券，代币化美国国债突破 10 亿美元

United States Treasurys tokenized on public blockchains surpassed $1 billion as traditional financial firms continued to load securities on-chain amid a prolonged period of elevated interest rates.

随着传统金融公司在长期利率上升的情况下继续在链上加载证券，在公共区块链上代币化的美国国债已超过 10 亿美元。

Data compiled by 21.co and Dune Analytics shows that tokenized government securities stood at $1.07 billion in assets on March 28, distributed across 17 products. A majority of the assets are based on the Ethereum, Polygon and Stellar networks.

21.co 和 Dune Analytics 汇编的数据显示，截至 3 月 28 日，代币化政府证券资产达 10.7 亿美元，分布在 17 种产品中。大部分资产基于以太坊、Polygon 和 Stellar 网络。

Leading the issuers is investment firm Franklin Templeton, with over $360.1 million in assets and 33.6% of the market share through its Franklin OnChain U.S. Government Money Fund (FOBXX). Using the Polygon and Stellar blockchains, the tokenized fund launched in 2021 and is represented by the BENJI token.

领先的发行人是投资公司富兰克林邓普顿 (Franklin Templeton)，该公司拥有超过 3.601 亿美元的资产，通过其富兰克林链上美国政府货币基金 (FOBXX) 占据 33.6% 的市场份额。该代币化基金使用 Polygon 和 Stellar 区块链，于 2021 年推出，以 BENJI 代币为代表。

The second position is held by BlackRock's USD Institutional Digital Liquidity Fund, or BUILD, with $244.8 million worth of assets tokenized, representing 22.8% of government Treasurys on-chain.

第二位由贝莱德的美元机构数字流动性基金（BUILD）持有，其代币化资产价值 2.448 亿美元，占链上政府国库券的 22.8%。联合电讯报

Treasurys are debt securities issued by the U.S. federal government. Investors lend money to the government by buying these securities, and in return, the government promises to pay back the principal amount on a specified date, along with interest.

美国国债是美国联邦政府发行的债务证券。投资者通过购买这些证券向政府借钱，作为回报，政府承诺在指定日期偿还本金和利息。

Due to the rise in interest rates in the United States in recent years, government treasuries have become more attractive to investors from a risk-return perspective. As of March, the U.S. Federal Reserve has maintained its benchmark interest rates at a 23-year high between 5.25% and 5.50% to control inflation. Blockchain-based digital tokens representing U.S. Treasury securities rose 641% in 2023.

由于近年来美国利率上升，从风险回报角度来看，政府国债对投资者的吸引力越来越大。截至3月，美联储将基准利率维持在5.25%至5.50%之间的23年高位，以控制通胀。代表美国国债的基于区块链的数字代币在 2023 年上涨了 641%。

Tokenizing U.S. Treasurys on a blockchain involves creating digital tokens that represent ownership of the underlying security. It impacts the way securities are issued, traded and managed, offering more liquidity and allowing investors with less capital to participate. Major financial institutions like UBS and JPMorgan have ventured into asset tokenization, with projects aimed at bridging traditional financial assets and blockchain technology.

在区块链上对美国国债进行代币化涉及创建代表基础证券所有权的数字代币。它影响证券的发行、交易和管理方式，提供更多的流动性并允许资本较少的投资者参与。瑞银和摩根大通等主要金融机构已经涉足资产代币化，其项目旨在连接传统金融资产和区块链技术。

Crypto projects are also diving into tokenized U.S. Treasurys to back up their operations. Decentralized finance platform Ondo Finance, for instance, is now the largest holder of BlackRock's BUILD, holding 38% of the fund’s supply, according to Tom Wan, data analyst at 21.co.

加密货币项目也开始涉足代币化的美国国债来支持其运营。例如，根据 21.co 数据分析师 Tom Wan 的说法，去中心化金融平台 Ondo Finance 现在是贝莱德 BUILD 的最大持有者，持有该基金供应量的 38%。