• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

BlackRock's BUIDL on Track for Integration with Frax USD

user avatar

by Giorgi Kostiuk

a year 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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Surge in Stablecoin Activity Highlights Solana's Role in Digital Finance

chest

The Solana network is gaining attention due to a significant increase in stablecoin activity, showcasing its role as a hub for on-chain liquidity and digital finance transactions.

user avatarMohamed Farouk

Joe Weisenthal Analyzes Crypto's Struggles Amid Market Boom

chest

Bloomberg's Joe Weisenthal analyzes the challenges facing the crypto market, arguing it is in the coldest crypto winter ever, while other sectors thrive.

user avatarElias Mukuru

Solana Experiences Unprecedented Eight Consecutive Red Monthly Candles

chest

Solana has printed eight consecutive red monthly candles, indicating a prolonged slump and a potential for a sharp rebound after the ninth red candle.

user avatarDiego Alvarez

Ethereum Breaks Above Key Moving Averages, Signaling Potential Shift in Momentum

chest

Ethereum has broken above its 4-hour 200 MA and 200 EMA for the first time since April, indicating a possible shift back to bullish momentum.

user avatarKenji Takahashi

XRP Ledger Sees Unprecedented Growth in Tokenized Assets

chest

The XRP Ledger has seen significant growth in tokenized assets, increasing from 900 million to nearly 4 billion in just five months, with a 1379% rise in the last 30 days.

user avatarMaria Fernandez

Mastercard Expands Global Settlement Infrastructure to Support Crypto Transactions

chest

Mastercard announced a significant expansion of its global settlement infrastructure to enable on-chain settlement using regulated stablecoins, allowing card transactions to settle 24/7.

user avatarGustavo Mendoza

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.