BlackRock is bringing its $2.1 billion tokenized Treasury fund to Uniswap, expanding institutional access to DeFi and deepening Wall Street’s push into onchain finance. Asset management giant BlackRock is making its first formal move into decentralized finance by bringing its tokenized US Treasury fund to Uniswap, marking a milestone moment for institutional adoption of DeFi. According to a Wednesday announcement, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) will be listed on the Uniswap decentralized exchange, allowing institutional investors to buy and sell the tokenized security. As part of the arrangement, BlackRock is also purchasing an undisclosed amount of Uniswap’s native governance token, UNI, the announcement said. Read more
The pilot programs explore wholesale settlement between institutions and real-world use cases, along with stablecoin development and tokenized bank deposits. Bank Negara Malaysia (BNM), the country’s central bank, said on Wednesday that its Digital Asset Innovation Hub (DAIH) is piloting three regulatory sandbox programs to research and develop stablecoins and tokenized bank deposits. BNM’s initiatives center on using ringgit stablecoins, the fiat currency of Malaysia, for cross-border settlement and developing tokenized real-world assets (RWAs), according to the announcement. The pilot also aims to test tokenized bank deposits, with all research potentially applicable to the development of a wholesale central bank digital currency (CBDC), onchain fiat currency issued and managed directly by a central bank. Read more
Bitcoin price could still reach $150,000 by year-end, but several things must happen for BTC price to find its technical footing and spark a new bull run. Bitcoin (BTC) may recover from its ongoing slump and reach $150,000 by the year’s end, according to a recent Bernstein outlook. Key takeaways: Bitcoin must hold the 200-week SMA and see new-investor flows turn positive. Read more