Securitize, Ethena launch BlackRock BUIDL liquidity facility for tokenized fund trading
Institutional demand for around-the-clock access to tokenized assets is pushing digital finance providers to expand liquidity tools beyond traditional market hours. Securitize and Ethena Labs have now launched a $100 million facility for BlackRock's USD Institutional Digital Liquidity Fund, allowing eligible investors to swap BUIDL shares for supported stablecoins including U.S. dollar coin, or USDC.
Highlights
- Securitize and Ethena Labs launched a $50 million liquidity facility for BlackRock's BUIDL tokenized fund, split between BUIDL and USDC, with an additional $50 million available within an hour.
- The facility enables eligible investors to trade BlackRock's tokenized fund for supported stablecoins 24/7, bridging gaps between traditional and blockchain markets.
- The move expands BlackRock's onchain BUIDL push, following February's $2.4 billion Uniswap trading rollout, and strengthens tokenized fund market usability via stablecoin conversions.
Facility rollout and trading access
The Block reported that Securitize and Ethena Labs have put the new liquidity facility into operation with $50 million of initial liquidity, divided equally between BUIDL and U.S. dollar coin, or USDC.The companies say an additional $50 million can be made available within an hour as the initial liquidity is used. The structure is designed to let eligible investors exchange shares of BlackRock's tokenized fund for supported stablecoins on a 24/7 basis, outside conventional market trading hours.
The launch extends an existing partnership tied to BUIDL and USDtb, Ethena's digital dollar product that is backed primarily by BUIDL. The firms first announced the $100 million facility in June.
Carlos Domingo, co-founder and chief executive of Securitize, says the launch marks another step toward giving institutional investors access to liquidity when needed rather than only when traditional markets are open. Guy Young, founder of Ethena Labs, says the facility helps narrow the gap between fixed market hours and always-on blockchain trading.
Broader push in tokenized finance
The move adds to BlackRock's broader expansion of BUIDL in onchain markets as tokenized Treasury products gain traction among institutional participants. The facility also reinforces the role of stablecoin conversion and secondary liquidity in making tokenized funds more usable in day-to-day market activity.Earlier this year, in February, BlackRock and Securitize also turned to Uniswap for direct onchain BUIDL trading. That step allowed eligible investors to trade the $2.4 billion tokenized Treasury fund through UniswapX, widening access channels for the product within blockchain-based markets.
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