Decentralized exchange Curve announced its partnership with blockchain network Elixir to enhance access to decentralized finance (DeFi) through BlackRock's tokenized money market fund.
Curve and Elixir Collaboration
Token holders will soon be able to mint Elixir's deUSD stablecoin, backed by BlackRock USD Institutional Digital Liquidity Fund (BUIDL). deUSD can then be swapped for other DeFi stablecoins like USD Coin (USDC), Tether (USDT), and Frax on Curve's liquidity pools. Up to $1 billion in institutional real-world assets can mint deUSD, a yield-bearing synthetic dollar. Curve already hosts the majority of deUSD trading and liquidity, with $64 million in its pools.
BlackRock's Tokenized Money Fund
BUIDL, tokenized by Securitize, is a money market fund investing in Treasury bills and similar low-risk interest-bearing securities. As the largest tokenized Treasury fund, BUIDL is also launched on blockchain networks like Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
Growth of Tokenized Assets
Demand for tokenized low-risk assets is rising, with tokenized Treasury products reaching $2.5 billion in TVL. Globally, tokenized assets represent a $30 trillion market opportunity.
The collaboration between Curve and Elixir strengthens the integration of real-world financial assets into the DeFi space, offering new opportunities for investors and users.
