BlackRock Invests in Uniswap, Brings Traditional Finance to DeFi
BlackRock, the world's largest asset manager, has made a strategic investment in Uniswap, purchasing an undisclosed amount of the UNI token. This move comes as BlackRock makes its first step into decentralized finance (DeFi), enabling the trading of its tokenized BUIDL shares using UniswapX technology.
BUIDL, a blockchain-based fund launched in 2024, is fully backed by U.S. Treasury bills and cash. By making BUIDL shares available to trade on Uniswap, BlackRock is bridging the gap between traditional finance and DeFi, providing new liquidity options for BUIDL holders.
Uniswap Labs Founder and CEO Hayden Adams said, 'Enabling BUIDL on UniswapX with BlackRock and Securitize supercharges our mission by creating efficient markets, better liquidity, and faster settlement. I'm excited to see what we build together.'
UNI has seen a 14% increase in value, reaching $3.85. BlackRock's CEO Larry Fink has been an advocate of blockchain-based finance, emphasizing its potential to cut costs and improve efficiency.