The financial industry is witnessing a significant shift towards tokenization, with BlackRock leading the charge by tokenizing $1 billion in US Treasuries through its USD Institutional Digital Liquidity Fund following the BUIDL launch. This fund, which has attracted at least $240 million since its debut, invests in cash, US Treasury bills, and repurchase agreements, offering a crypto token called BUIDL valued at $1 per token. The tokenization initiative, which is restricted to qualified institutions, is part of a broader movement that includes the Bank for International Settlements (BIS) and seven central banks, including the New York Fed. These institutions have launched Project Agorá to explore how tokenization could enhance the efficiency of global financial systems and improve the speed and integrity of international payments, targeting a slice of the $14 trillion tokenization market.