BlackRock's BUIDL on Track for Integration with Frax USD

user avatar

by Giorgi Kostiuk

2 years ago

Securitize is brokering a deal for BlackRock's BUIDL token to be used as collateral for the upcoming Frax USD stablecoin. The proposal is currently under community review.

Partnership Between Securitize and BlackRock

Securitize acts as a broker for BlackRock, promoting their BUIDL token in a partnership with Frax Finance. The goal is to use BUIDL as collateral for the Frax USD stablecoin. The proposal highlights the potential of reducing counterparty risk for Frax reserves through collaboration with BlackRock.

Approval Process and Prospects

The proposal is subject to community voting and has garnered support, including feedback from frax.finance. A response from user alexd3366 expresses wholehearted support and belief in the project's potential.

Competition for Frax USD Integration

Competitors are also proposing solutions, such as the platform Superstate. Their proposals include the use of USTB Treasury bonds and the USCC crypto fund to back the frxUSD stablecoin. Superstate hopes Frax will allocate up to $120 million for their assets.

The initiative for integrating BlackRock's BUIDL into the Frax USD system is advancing with community support, although competition is significant. The final decision rests on the Frax community's vote.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Federal Judge Rules Justin Sun's Case Against World Liberty Financial to Remain in Open Court

chest

A federal judge in San Francisco ruled that Justin Sun's legal battle with World Liberty Financial over $45 million in frozen tokens will remain in open court, rejecting the company's bid for arbitration.

user avatarKaterina Papadopoulou

New Report Published Utilizing Primary Source Documentation.

chest

The report is based on information released in disclosures at primary source documentation, ensuring that the information provided is accurate and reliable.

user avatarMaya Lundqvist

US Spot Bitcoin ETFs Experience Record Inflows

chest

US spot Bitcoin ETFs saw a significant inflow of $60.6 billion on Thursday, marking their largest single-day gain since May 1.

user avatarLeo van der Veen

New Study Emphasizes the Significance of Primary Source Documentation.

chest

The report highlights the importance of primary source documentation for providing accurate and reliable information.

user avatarLi Weicheng

Cumulative Inflows into US Spot Solana ETFs Reach $116 Billion

chest

Cumulative inflows into US spot Solana ETFs have surpassed $116 billion, indicating growing institutional interest in the token.

user avatarTenzin Dorje

Binance to Remove Seven Spot Trading Pairs on August 21

chest

Binance has announced the removal of seven spot trading pairs on August 21 at 0300 UTC, including SUIBNB and LTCBNB, as part of its market optimization process.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.