BlackRock的Buidl Fund在Defi中引起了轰动，可与Ethena的USDTB进行24/7互换。这是机构参与加密的未来吗？

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

BlackRock的Buidl Fund and USDTB：机构Defi的新时代？

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.

贝莱德（Blackrock）的Buidl基金正在数字金融界震惊。凭借与Ethena的USDTB Stablecoin互换之类的集成，这是机构Defi的新时代的曙光吗？让我们潜水。

BUIDL and USDtb: A Seamless Integration

Buidl和USDTB：无缝集成

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最近宣布了一个重大突破：BlackRock的令牌化基金Buidl和Ethena的合成Stablecoin USDTB之间的24/7原子交换。这种集成使合格的参与者可以全天无权转移资产，从而弥合了传统的收益率和加密本地流动性。可以将其视为机构投资者和Defi用户在Onchain Tearasurys和Stablecoins之间移动资本的实时坡道。

BUIDL's Dominance in the Tokenized Treasury Market

Buidl在标记的财政市场中的主导地位

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基金于2024年3月启动，已迅速成为任何公共区块链上最大的标记财政基金，拥有近29亿美元的总价值锁定（TVL）。它的成功凸显了机构资本进入代币化的现实资产（RWA）的日益流量。诸如Deribit和Crypto.com之类的加密交易所现在接受Buidl的事实，因为交易抵押品进一步巩固了其位置。

Tokenized Treasurys vs. Traditional Stablecoins

令牌库库与传统的稳定

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.

由于其承重性能，因此，令牌化的美国财政产品正在作为传统稳定币的替代品。 Buidl作为Frax-usd Stablecoin（FRXUSD）的抵押品的整合展示了其提供更深的流动性和降低对手风险的潜力，并得到了贝莱德（Blackrock）在管理中的大量资产的支持。

Concerns and Centralization Risks

关注和集中化风险

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.

尽管令人兴奋，但一些行业高管和市场参与者还是对集中化风险保持警惕。包括贝莱德在内的少数公司控制着代币化的美国财政市场。但是，以太坊在对这些资产的统治中的主导地位为未来增长提供了坚实的基础。

The Future is Tokenized

未来是标记的

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.

贝莱德的举动表明了一个更大的趋势：主要机构正在利用区块链在资产类别上进行实时可编程流动性。这不仅仅是监护权或解决方案。这是关于将传统资本市场与分散的财务融合。

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!

那么，这是华尔街和迪迪之间美丽友谊的开始吗？只有时间会说明，但是可以肯定的是：贝莱德正在发表声明，其余的金融界正在密切关注。搭扣，伙计们 - 这将是一个有趣的旅程！