Uniswap and Securitize have announced a strategic partnership with BlackRock to provide DeFi liquidity for BlackRock’s tokenized fund.
Uniswap Labs and Securitize have announced a new partnership with financial giant BlackRock to enhance DeFi liquidity for institutional investors through BlackRock’s USD Institutional Digital Liquidity Fund, also known as BUIDL.
Following the announcement, the price of Uniswap’s native token, UNI, surged by 27% from around $3.30 to $4.36, before retracing to $3.81 by press time.
UNI 24-hour price chart. Source: CoinGeckoThe collaboration will enable on-chain trading of BUIDL’s share on UniswapX, an auction-driven trading protocol, unlocking new liquidity options for BUIDL holders, Uniswap said in a blog post today.
Tokenization platform Securitize, for its turn, will facilitate trading for BUIDL investors who elect to participate through UniswapX’s framework.
As part of the collaboration, BlackRock has also made a strategic investment within the Uniswap ecosystem, the blog post reads, though no details were given.
The collaboration comes shortly after investment management firm Franklin Templeton teamed up with Binance to launch tokenized collateral program. As The Defiant reported earlier, eligible clients can now use tokenized money market funds as off-exchange trading collateral.
This article was generated with the assistance of AI workflows.
Source: https://thedefiant.io/news/defi/uni-rallies-after-strategic-investment-from-blackrock
