Global asset management giant BlackRock is significantly deepening its layout in the decentralized finance (DeFi) sector. According to a statement released on Wednesday, BlackRock announced that it will officially open its tokenized U.S. Treasury fund 'BUIDL' for on-chain trading through partnerships with Uniswap Labs and digital asset issuance platform Securitize.
This integration will allow eligible investors to purchase the 'BlackRock USD Institutional Digital Liquidity Fund (BUIDL)' directly using UniswapX technology.
UniswapX is an off-chain order routing system developed by Uniswap Labs that integrates market liquidity and settles trades on-chain. The Uniswap ecosystem is the world's largest decentralized exchange by trading volume, not relying on traditional banks or brokerages as intermediaries, but instead using automated market maker (AMM) smart contracts to operate.
Specific transaction execution will be handled by Securitize Markets, utilizing a "pricing mechanism" to connect institutional investors within the whitelist, and completing settlement on the blockchain through smart contracts.
Even more notably, BlackRock revealed that it has invested in the Uniswap ecosystem, directly purchasing an undisclosed amount of UNI tokens, which the market interprets as the strongest vote of confidence from traditional financial giants in DeFi.
Stimulated by news, the Uniswap governance token UNI surged over 20%, reaching a peak of $4.36.
This cooperation marks the first time BlackRock has directly integrated its tokenized products into DeFi trading infrastructure. BUIDL is a tokenized fund issued by Securitize, fully backed by U.S. Treasury bonds and cash equivalents.
As of February 11, the assets under management (AUM) of BUIDL reached approximately $2.4 billion, making it the largest institutional-grade tokenized fund currently on public chains.
BlackRock has been quite aggressive in its recent positioning, not only expanding BUIDL to BNB Chain and Solana but also integrating with DeFi protocols like Euler through packaged versions, thereby widening the coverage of this product.
Securitize has a regulated broker-dealer and alternative trading system (ATS) license in the United States, responsible for the token issuance and compliance management of the BUIDL fund. The company stated that investors choosing to trade through UniswapX must go through pre-qualification and be whitelisted.
"Asset management giants are entering DeFi! BlackRock teams up with Uniswap to open BUIDL on-chain trading, with UNI soaring 20%" This article was first published on (Block客).