Crypto:
32940
Bitcoin:
$93.222
% 1.98
BTC Dominance:
%57.5
% 0.19
Market Cap:
$3.28 T
% 1.74
Fear & Greed:
73 / 100
Bitcoin:
$ 93.222
BTC Dominance:
% 57.5
Market Cap:
$3.28 T

BlackRock Backed BUIDL Could Be The Reserve For Frax USD!

Blackrock

The BUIDL fund, backed by BlackRock, the world’s largest asset manager, could be added as a reserve asset to the Frax USD stablecoin. The proposal, submitted by Securitize, states that BUIDL offers liquidity, return opportunities and low counterparty risk by investing in low-risk US government bonds.

If the proposal, which will be put to a community vote, is accepted, BUIDL will join Frax USD’s reserve assets. Tokenised real-world assets are increasingly being used to back stablecoin reserves.

In October 2024, BlackRock proposed using BUIDL as collateral for crypto derivatives transactions on platforms such as Binance and OKX. In addition, Elixir Protocol’s deUSD stablecoin is traded on the Curve platform with BUIDL collateral.

BlackRock’s move could create a strong alternative to giants such as Tether and Circle in the crypto derivatives markets.

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