[DigitalToday reporter Chi-gyu Hwang (황치규)] BlackRock, the world’s largest asset manager, is entering the decentralised finance (DeFi) market in earnest. BlackRock listed its $2.1 billion tokenised U.S. Treasury fund (BUIDL) on Uniswap to make it easier for institutional investors to access on-chain finance, Cointelegraph reported on Feb. 11 (local time).
BUIDL is a tokenised Treasury fund issued by BlackRock using digital assets, allowing institutional investors to trade it directly via Uniswap. As part of the cooperation, BlackRock also plans to buy Uniswap’s governance token, UNI. The collaboration with Uniswap will be brokered by tokenisation specialist Securitize, and initially only approved institutional investors and market makers will be able to take part in trading.
BUIDL is being issued on various blockchain networks including Ethereum, Solana, BNB Chain, Aptos and Avalanche. In December last year, it also paid more than $100 million in dividends from its Treasury holdings.
Chi-gyu Hwang
delight@d-today.co.kr