Uniswap Labs has partnered with Securitize, the issuer of BlackRock’s BUIDL tokenized money market fund (MMF) token, to enable DeFi trading for BUIDL. The partnership comes alongside BlackRock’s investment in the UNI token.
Since BUIDL represents tokenized shares, they have to be compliant, so access to trading is via Securitize, which whitelists all token holders. Uniswap is best known for its automated market maker protocols (AMMs), but that is not where BUIDL will be traded.
Instead it will use the UniswapX protocol which is essentially an order routing and aggregation protocol, but like AMM protocols, it does not take custody of any assets. It uses an automated request for quote (RFQ) system to identify the optimal price from a group of market makers (“subscribers”) such as Flowdesk, Tokka Labs, and Wintermute, which have also been whitelisted by Securitize. A key benefit is the ability to trade 24/7 with instant settlement.
“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,” said Hayden Adams, Uniswap Labs Founder and CEO.
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