BlackRock Integrates BUIDL Fund into Uniswap Trading Platform
The world's largest asset manager BlackRock is bringing its tokenized money market fund BUIDL to the decentralized trading platform UniswapX.
BlackRock is taking another step toward the decentralized finance world: The asset manager is integrating its tokenized money market fund BUIDL into the trading infrastructure of UniswapX, as announced by Uniswap Labs and tokenization specialist Securitize [1].
The BlackRock USD Institutional Digital Liquidity Fund currently manages assets of approximately $1.8 billion and invests in short-term U.S. Treasury securities, repurchase agreements, and cash equivalents. Institutional investors will now be able to trade fund shares directly via UniswapX, with settlement automated through smart contracts [1].
In addition to the integration, BlackRock announced an investment in the Uniswap ecosystem, though did not disclose the amount. BlackRock's acquisition of the UNI governance token had previously been reported [1].
Robert Mitchnick, Global Head of Digital Assets at BlackRock, described the integration as an important step for the interoperability of tokenized U.S. dollar yield funds with stablecoins. The UNI token responded with a price increase of approximately nine percent to $3.68, though it remains down 30 percent over the past month [1].
Sources
- [1]btc-echo.de
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