According to the announcement, the giant investment firm BlackRock has announced that they have partnered 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 premier 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 partnership unlocks enormous potential: up to $1 billion of institutional real-world asset (RWA) holders can now coin USD, a profitable synthetic dollar. At this point, BUIDL token holders can now mint USD while maintaining their original investment returns.”
Curve currently hosts the majority of USD trading and liquidity, with $64 million (about 60% of total liquidity) currently in Curve pools.
Following the news, there was an increase in CRV prices.
*This is not investment advice.
