CDS Crypto News Crypto News- MakerDAO’s $1 billion treasury investment initiative gains attention from BlackRock’s BUIDL
Crypto News

Crypto News- MakerDAO’s $1 billion treasury investment initiative gains attention from BlackRock’s BUIDL

113
Crypto News- Makerdao'S $1 Billion Treasury Investment Initiative Gains Attention From Blackrock'S Buidl

Crypto News- MakerDAO’s plan to invest $1 billion from its tokenized treasury has caught the attention of BlackRock’s BUIDL, Ondo, and Superstate

Crypto News– MakerDAO, the crypto lending platform behind the $5 billion stablecoin DAI, is set to invest $1 billion of its reserves in tokenized U.S. Treasury products. This move has garnered interest from major players like BlackRock’s BUIDL, Superstate, and Ondo Finance, who are preparing to apply for the opportunity.

We see this as a strategic move by MakerDAO and we’re eager to engage through BlackRock’s BUIDL, commented Carlos Domingo, CEO of Securitize, BlackRock’s issuance partner, in an email to CoinDesk. As leading issuers of tokenized treasuries, we will definitely be applying.

Robert Leshner, founder of Superstate, expressed enthusiasm about MakerDAO’s open approach. Superstate’s USTB is well-aligned with MakerDAO’s goals, Leshner told CoinDesk. We’re thrilled to introduce USTB to the community through this initiative.

Ondo Finance, a $550 million platform for real-world assets (RWA), also plans to participate. “It perfectly aligns with our mission of democratizing institutional-grade financial products,” said Nathan Allman, founder of Ondo Finance, in a Telegram message. We’re looking forward to being part of this.

News of these issuers’ interest caused Maker’s governance token (MKR) to rise by 5%. This strategic move marks a significant shift in MakerDAO’s reserve strategy as it evolves under founder Rune Christensen’s Endgame Plan. MakerDAO has been at the forefront of decentralized finance (DeFi), pioneering the use of real-world assets (RWAs) to support its decentralized stablecoin, backed in part by off-chain holdings of U.S. government bonds and bills with various partners.

Spark Protocol to Centralize RWAs on Maker and Ethereum, Applications Opening August 12

Spark Protocol, a lending platform built on top of Maker, aims to establish itself as the primary hub for Real World Assets (RWAs) on Maker and Ethereum, according to the announcement. The initiative is driven by the Spark SubDAO, a decentralized autonomous organization within MakerDAO.

Applications are set to open on August 12, with further competition details expected to be announced in the coming weeks, the post stated.

Tokenized Treasuries Gain Momentum with Significant Boost

MakerDAO’s investment represents a substantial boost for tokenized real-world asset protocols, given its substantial size. U.S. Treasuries have been a focal point in the efforts of digital asset firms and traditional financial institutions to tokenize assets. These products are appealing to protocol treasuries as low-risk instruments where they can store blockchain-based funds and generate stable yields within the blockchain ecosystem.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto News- Makerdao's $1 Billion Treasury Investment Initiative Gains Attention From Blackrock's Buidl

Leave a comment

Leave a Reply

Related Articles

Crypto Market Trends: Best Tokens for December 2024

Discover the top cryptocurrencies to watch in December 2024, including EarthMeta, Bitcoin,...

Bitcoin Price: BTC Rebounds After Flash Volatility

Bitcoin bounces back to $97K after political turmoil in South Korea, with...

RLUSD Stablecoin: Ripple’s December 4 Launch Date Announced

Ripple is set to launch its US dollar-backed stablecoin, RLUSD, on December...

Rollblock Crypto Surge: 270% Increase in RBLK Token Amid Solana and PEPE Struggles

Rollblock's RBLK token has surged 270% amid a market downturn for Solana...