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

Dormant Bitcoin Wallets Come to Life

chest

Six dormant Bitcoin wallets have moved a total of 55,359 BTC, worth approximately $40.15 million, between August 16 and August 26.

user avatarSatoshi Nakamura

SEC Proposes New Rules for Crypto Custody Regulations

chest

The SEC has proposed new rules to modernize crypto custody regulations for investment advisers and companies.

user avatarJesper Sørensen

US Law Blocks Federal Reserve from Issuing Digital Currency Until 2030

chest

US Congress passed a law blocking the Federal Reserve from issuing a digital currency until 2030.

user avatarRajesh Kumar

ECB Executive Addresses Privacy Concerns of Digital Euro

chest

Piero Cipollone from the European Central Bank addresses privacy concerns regarding the digital euro, emphasizing user privacy and transaction confidentiality.

user avatarLucas Weissmann

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

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.