Block & Bond Brief — April 1, 2026

Tokenized assets, digital bonds, and on-chain finance — Wednesday April 1, 2026

📊 Market Snapshot

• Bitcoin: $68,408 (+3.0% 24h)
• Ethereum: $2,128 (+5.0% 24h)
• BlackRock BUIDL: $1.9B+ TVL across chains | 3.25–3.59% APY
• Ondo USDY/OUSG: $1.6B+ TVL | 3.55% APY

🏦 Tokenization

BlackRock's BUIDL fund continues to set the pace for institutional tokenized money markets, now spread across multiple chains with over $1.9B in combined TVL. Ondo Finance's yield-bearing stablecoin products (USDY, USDYC, OUSG) collectively hold $1.6B+ — reinforcing the thesis that tokenized T-bill exposure is the dominant RWA use case of this cycle.

🔗 Digital Bonds

The pipeline of institutional-grade digital bond issuances continues to build, with ADGM-domiciled platforms gaining traction as Abu Dhabi positions itself as the leading jurisdiction for tokenized fixed income. Lunate's $2B partnership with Brevan Howard, announced in August 2025, highlighted the Gulf's ambition to host both the capital and the infrastructure of next-generation asset management.

📡 Infrastructure

Canton Network's monthly settlement volumes — running at $5.9T through Broadridge DLR — continue to demonstrate that DLT-based post-trade infrastructure is no longer a pilot. It is production. The question for 2026 is no longer whether institutions will adopt distributed ledger settlement rails, but which ones and at what pace.

💡 The Number

$3.59% — BlackRock BUIDL's current APY on Ethereum. The risk-free rate, on-chain, from the world's largest asset manager. That sentence would have been science fiction three years ago.

Block & Bond covers tokenization, digital bonds, and on-chain finance for institutional and professional audiences. blocknbond.xyz