BlackRock's tokenized money market fund, BUIDL, has officially made its entry into the decentralized finance sector.

In a May 15 post on X, Euler Labs confirmed that sBUIDL, a token backed 1:1 by BlackRock's BUIDL and issued by Securitize, is now live on the Euler protocol.

BlackRock's tokenized money market fund, BUIDL, has officially entered the decentralized finance sector with the listing of sBUIDL on Euler.

On May 15, Euler Labs announced on X, formerly Twitter, that sBUIDL, a token backed 1:1 by BlackRock's BUIDL and issued by Securitize, is now available on the Euler protocol for direct integration. This marks sBUIDL's first direct integration into DeFi and was completed by Re7 Labs on Avalanche (AVAX).

1/ A historic first in DeFi.

BlackRock-backed sBUIDL, issued by @Securitize, is now live on Euler for direct integration. It's sBUIDL's first ever direct integration into DeFi.

This integration was completed by @Re7Labs on @Avax.

sLIGHT is a token issued by Securitize and backed 1:1 by BlackRock’s BUIDL. sLIGHT is the first tokenized asset to be listed on Euler, and it marks a significant milestone for both protocols. Euler is a cutting-edge lending protocol that provides institutions with the tools to launch custom lending markets with full control over the key parameters, such as collateral requirements, liquidation settings, and access permissions.

In contrast, traditional DeFi protocols are typically limited to fixed models. What sets Euler apart is its modular architecture, which empowers builders to combine various components to create new lending products. This remarkable flexibility allows for the support of permitted markets, synthetic asset structures, and fixed-term loans.

Since its launch, Euler has already successfully drawn deposits of over $900 million. A major strength of the platform is its capability to support sophisticated institutional lending strategies, although it's no secret that yield is still a primary factor for users engaging with DeFi protocols.

The protocol's design also enables different vaults to connect seamlessly using the ERC4626 standard and Ethereum Vault Connector, contributing to a highly liquid network.

Launched in March by BlackRock, the BUIDL fund has rapidly expanded to $2.8 billion in assets, according to rwa.xyz. The fund, which invests in U.S. Treasury bills, cash, and repos to maintain a stable $1 per token and pays dividends daily, is now available on several blockchains, including Ethereum (ETH), Solana (SOL), and Arbitrum (ARB).

Despite its size, BUIDL's holder base remains small, with only 73 wallets as of recent data. However, the integration of sBUIDL marks a broader movement toward connecting on-chain applications with traditional finance.

As Euler pushes toward greater institutional adoption and BlackRock continues to expand its presence in the defi market, this integration brings real-world assets into a new use case in decentralized lending.

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