According to the announcement, the giant investment company BlackRock announced that they have established a partnership with the altcoin called Curve (CRV).
Accordingly, BlackRock’s $533 million BUIDL fund will be involved in decentralized finance (DeFi) through Elixir and Curve Finance.
“Curve Finance, the leading decentralized exchange for stablecoin trading, continues to strengthen its position as the primary liquidity center for USD and other stablecoins.
BlackRock’s $533 million BUIDL fund, along with other institutional funds tokenized by Securitize, will soon have access to DeFi via Elixir’s USD protocol.
This collaboration unlocks tremendous potential: up to $1 billion in institutional real-world assets (RWA) holders can now mint USD, a yielding synthetic dollar. At this point, BUIDL token holders can now mint USD while preserving their original investment returns.”
Curve currently hosts the majority of USD trading and liquidity, with $64 million (approximately 60% of total liquidity) currently in Curve pools.
There was an increase in CRV prices after the news.
*This is not investment advice.