BlackRock partners with Uniswap! Opens tokenized fund BUIDL for on-chain trading, UNI surges 20% at one point

UNI-13,44%
BNB-4,93%
SOL-5,49%
EUL-3,99%

BlackRock Teams Up with Uniswap and Securitize to Enable On-Chain Trading of BUIDL, Officially Connecting Traditional Assets to the DeFi Ecosystem

Global asset management leader BlackRock is significantly expanding its presence in the decentralized finance (DeFi) space. According to a statement released on Wednesday, BlackRock announced that through collaborations with Uniswap Labs and digital asset issuance platform Securitize, it will officially open its tokenized U.S. Treasury bond fund, “BUIDL,” for on-chain trading.

This integration will allow qualified investors to purchase the “BlackRock USD Institutional Digital Liquidity Fund (BUIDL)” directly via UniswapX technology.

UniswapX is a off-chain order routing system developed by Uniswap Labs that consolidates market liquidity and settles trades on-chain. The Uniswap ecosystem is the world’s largest decentralized exchange by trading volume, operating without reliance on traditional intermediaries such as banks or brokers, instead utilizing automated market maker (AMM) smart contracts.

The specific trade execution will be managed by Securitize Markets, which will use an “order book” mechanism to connect institutional investors on the whitelist and settle transactions via smart contracts on the blockchain.

More notably, BlackRock revealed that it has invested in the Uniswap ecosystem, directly purchasing an undisclosed amount of UNI tokens, which market observers interpret as a strong vote of confidence from a traditional financial giant in DeFi.

Encouraged by the news, Uniswap’s governance token UNI surged over 20%, reaching a high of $4.36.

This partnership marks BlackRock’s first direct integration of its tokenized products into DeFi trading infrastructure. BUIDL is a tokenized fund issued by Securitize, fully backed by U.S. Treasuries and cash equivalents.

As of February 11, BUIDL’s assets under management (AUM) are approximately $2.4 billion, making it the largest institutional-grade tokenized fund on a public blockchain.

BlackRock has been very active recently, expanding BUIDL to BNB Chain and Solana, and integrating with DeFi protocols such as Euler through wrapped versions, broadening the product’s reach.

Securitize holds regulated broker-dealer and alternative trading system (ATS) licenses in the U.S., responsible for the tokenization issuance and compliance management of the BUIDL fund. The company stated that investors trading via UniswapX must undergo pre-qualification and be whitelisted.

  • This article is reprinted with permission from BlockCast
  • Original title: “Asset Management Giant Enters DeFi! BlackRock Teams Up with Uniswap to Open BUIDL for On-Chain Trading, UNI Surges 20% on News”
  • Original author: Block Girl MEL
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