Uniswap news: UNI surges 25% on BlackRock investment
BlackRock listed its tokenized U.S. Treasury fund, BUIDL, on Uniswap, causing UNI to jump 25%.Summary
BlackRock, the world's largest asset manager, has taken its first step into decentralized finance (DeFi) by making shares of its $2.2 billion tokenized U.S. Treasury fund, BUIDL, tradable on the decentralized exchange Uniswap. Concurrently, BlackRock disclosed a strategic investment in Uniswap and purchased an undisclosed amount of its governance token, UNI, which subsequently surged 25% to $4.11. BUIDL, the largest tokenized U.S. Treasury fund, is backed by U.S. Treasury bills and cash, offering on-chain yield. The integration utilizes UniswapX, allowing qualified and whitelisted users to trade BUIDL peer-to-peer with approved market makers using stablecoins, without traditional intermediaries. Robert Mitchnick, BlackRock’s global head of digital assets, called the collaboration a "notable step in the convergence of tokenized assets with decentralized finance."
(Source：CoinDesk)