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BlackRock Steps Into Decentralized Finance With BUIDL on Uniswap
Key Takeaways
- BlackRock brings its tokenized US Treasury fund, BUIDL, to Uniswap as one of its first direct steps into public DeFi markets;
- Only approved institutions gain early access to BUIDL trading on Uniswap, with broader access planned after the first phase;
- BlackRock plans to purchase an unspecified amount of UNI, while Securitize supports the effort as BUIDL becomes tradable on-chain.
BlackRock has taken a new step into decentralized finance (DeFi) by placing its tokenized US Treasury fund on Uniswap
This marks one of the firm’s first direct uses of a public DeFi platform. The fund involved is the USD Institutional Digital Liquidity Fund, known as BUIDL.
An update on February 11 confirmed that BUIDL will be listed on the Uniswap exchange, where eligible institutions will be able to buy and sell the tokenized asset on-chain.
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The decision includes another detail. BlackRock will also buy an unspecified amount of UNI
Securitize, a company that works on asset tokenization, is coordinating the effort. It partnered with BlackRock when BUIDL launched and continues to support the process as the fund becomes tradable on Uniswap.
Trading will not open to everyone at once. Fortune reported that only approved institutional investors and market makers will gain access at the start. The group will expand later once the initial phase is complete.
Securitize’s CEO, Carlos Dominigo, stated, "For the first time, institutions and whitelisted investors can access technology from a leader in the decentralized finance space to trade tokenized real-world assets like BUIDL with self-custody".
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