BlackRock has launched its $3 billion tokenized treasury fund, BUIDL, into the decentralized finance (DeFi) ecosystem for the first time
BlackRock has launched its $3 billion tokenized treasury fund, BUIDL, into the decentralized finance (DeFi) ecosystem for the first time. The fund’s token, sBUIDL, issued by Securitize and backed by BUIDL, is now integrated with Euler Finance on the Avalanche blockchain. This integration allows sBUIDL to be used as collateral on Euler, marking a milestone for institutional adoption of DeFi protocols. Avalanche recently reached a total value locked (TVL) of $1.54 billion, its highest level this year, coinciding with the upcoming Avalanche Summit in London scheduled to start on May 20, 2025. The summit will feature various events including an official after-party powered by HelloMoon.io. The integration of BlackRock’s fund with Euler Finance and Avalanche highlights growing institutional interest and innovation in the DeFi space.
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Source: https://thedefiant.io/news/defi/blackrocks-3-billion-tokenized-fund-buidl-sbuidl-token-launch-on-avalanche-defi-91342684