BlackRock的Buidl Fund在Defi中引起了轟動，可與Ethena的USDTB進行24/7互換。這是機構參與加密的未來嗎？

BlackRock's BUIDL Fund and USDtb: A New Era for Institutional DeFi?

BlackRock的Buidl Fund and USDTB：機構Defi的新時代？

BlackRock's BUIDL fund is shaking things up in the digital finance world. With integrations like 24/7 swaps with Ethena's USDtb stablecoin, is this the dawn of a new era for institutional DeFi? Let's dive in.

貝萊德（Blackrock）的Buidl基金正在數字金融界震驚。憑藉與Ethena的USDTB Stablecoin互換之類的集成，這是機構Defi的新時代的曙光嗎？讓我們潛水。

BUIDL and USDtb: A Seamless Integration

Buidl和USDTB：無縫集成

Ethena Labs and Securitize have recently announced a major breakthrough: 24/7 atomic swaps between BlackRock’s tokenized fund BUIDL and Ethena’s synthetic stablecoin USDtb. This integration allows qualified participants to transfer assets permissionlessly, around the clock, bridging traditional yield and crypto-native liquidity. Think of it as a real-time on-ramp for institutional investors and DeFi users to move capital between onchain Treasurys and stablecoins.

Ethena Labs和Securitize最近宣布了一個重大突破：BlackRock的令牌化基金Buidl和Ethena的合成Stablecoin USDTB之間的24/7原子交換。這種集成使合格的參與者可以全天無權轉移資產，從而彌合了傳統的收益率和加密本地流動性。可以將其視為機構投資者和Defi用戶在Onchain Tearasurys和Stablecoins之間移動資本的實時坡道。

BUIDL's Dominance in the Tokenized Treasury Market

Buidl在標記的財政市場中的主導地位

Launched in March 2024, BlackRock’s BUIDL fund has quickly become the largest tokenized Treasury fund on any public blockchain, boasting nearly $2.9 billion in total value locked (TVL). Its success highlights the increasing flow of institutional capital into tokenized real-world assets (RWAs). The fact that crypto exchanges like Deribit and Crypto.com are now accepting BUIDL as trading collateral further solidifies its position.

BlackRock的Buidl基金於2024年3月啟動，已迅速成為任何公共區塊鏈上最大的標記財政基金，擁有近29億美元的總價值鎖定（TVL）。它的成功凸顯了機構資本進入代幣化的現實資產（RWA）的日益流量。諸如Deribit和Crypto.com之類的加密交易所現在接受Buidl的事實，因為交易抵押品進一步鞏固了其位置。

Tokenized Treasurys vs. Traditional Stablecoins

令牌庫庫與傳統的穩定

Tokenized US Treasury products are emerging as an alternative to traditional stablecoins, thanks to their yield-bearing properties. BUIDL's integration as collateral for Frax-USD stablecoin (frxUSD) showcases its potential to provide deeper liquidity and lower counterparty risk, backed by BlackRock's massive assets under management.

由於其承重性能，因此，令牌化的美國財政產品正在作為傳統穩定幣的替代品。 Buidl作為Frax-usd Stablecoin（FRXUSD）的抵押品的整合展示了其提供更深的流動性和降低對手風險的潛力，並得到了貝萊德（Blackrock）在管理中的大量資產的支持。

Concerns and Centralization Risks

關注和集中化風險

Despite the excitement, some industry executives and market participants are wary of centralization risks. A small number of firms, including BlackRock, control a significant portion of the tokenized US treasury market. However, the dominance of Ethereum in tokenizing these assets suggests a strong foundation for future growth.

儘管令人興奮，但一些行業高管和市場參與者還是對集中化風險保持警惕。包括貝萊德在內的少數公司控制著代幣化的美國財政市場。但是，以太坊在對這些資產的統治中的主導地位為未來增長提供了堅實的基礎。

The Future is Tokenized

未來是標記的

BlackRock's moves signify a larger trend: major institutions are leveraging blockchain for live, programmable liquidity across asset classes. It's not just about custody or settlement anymore. It's about blending traditional capital markets with decentralized finance.

貝萊德的舉動表明了一個更大的趨勢：主要機構正在利用區塊鏈在資產類別上進行實時可編程流動性。這不僅僅是監護權或解決方案。這是關於將傳統資本市場與分散的財務融合。

So, is this the beginning of a beautiful friendship between Wall Street and DeFi? Only time will tell, but one thing's for sure: BlackRock is making a statement, and the rest of the financial world is watching closely. Buckle up, folks – it's going to be an interesting ride!

那麼，這是華爾街和迪迪之間美麗友誼的開始嗎？只有時間會說明，但是可以肯定的是：貝萊德正在發表聲明，其餘的金融界正在密切關注。搭扣，伙計們 - 這將是一個有趣的旅程！