by aria-crypto.com
November 29, 2024 at 14:27
BlackRock Dives into DeFi with $533 Million Investment in Curve Finance
BlackRock has launched a significant foray into decentralized finance (DeFi) by partnering with the altcoin Curve (CRV), which is prominently listed on Binance. This collaboration will involve BlackRock's $533 million BUIDL fund, emphasizing the integration of institutional funds into the DeFi sector through Elixir and Curve Finance platforms. Curve Finance is recognized as a leading decentralized exchange for stablecoin trading, primarily acting as a central liquidity hub for USD and various stablecoins. BUIDL fund's involvement allows token holders to mint a yielding synthetic dollar, known as USD, without compromising their initial investment returns. With this move, BlackRock enables up to $1 billion from institutional real-world asset holders to enter the DeFi space. Following the announcement, there was a noticeable rise in the market price of CRV, underscoring the positive market reception. This partnership indicates a strong future for institutional engagement in cryptocurrency through DeFi platforms.
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