BlackRock's new USD Institutional Digital Liquidity Fund (BUIDL) is coming to the UniswapX protocol, following a partnership with Uniswap Labs and Securitize. This integration is expected to enhance liquidity options, facilitating trading of the fund directly on the blockchain.
With a total locked value of $2.1 billion, BUIDL represents the largest tokenized U.S. Treasury bond fund available, launching in 2024. The move allows investors to trade the fund around the clock on-chain.
Robert Michnik, head of BlackRock’s digital asset division, emphasized that this partnership is a key development for aligning stablecoins with tokenized income-generating funds.
Upon the announcement, the UNI token experienced a significant uplift, soaring 14% from approximately $3.2 to $3.8, briefly exceeding the $4 threshold. BlackRock also disclosed that it has made strategic investments in Uniswap and acquired a quantity of the native UNI token.
