BlackRock has launched the first direct decentralized finance (DeFi) integration of its nearly $3 billion tokenized Treasury fund, sBUIDL
BlackRock's nearly $3 billion tokenized Treasury fund, sBUIDL, has launched the first direct decentralized finance (DeFi) integration of a direct lending and borrowing protocol, Euler Finance, on the Avalanche blockchain network.
The sBUIDL token, issued by Securitize using its sToken vault technology, is now available as on-chain collateral for lending and borrowing on Euler. This integration enables the previously restricted BUIDL fund, which is an ERC-20 standard token and a fully transferable digital security, to be used within DeFi protocols.
This move marks a notable step in the composability of traditional finance and DeFi. The sBUIDL tokens on Euler are secured by Chainlink data feeds, ensuring reliable pricing and security for users. The integration was curated by Re7Labs on the Avalanche network, and it is anticipated that other DeFi platforms like Aave may accept sBUIDL tokens for lending and borrowing.
The post BlackRock's Tokenized Treasury Fund Integrates With Euler on Avalanche
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