BlackRock has stepped into the DeFi world with BUIDL.

BlackRock has taken its first step into the DeFi space by launching its $2.2 billion tokenized U.S. Treasury fund BUIDL shares for trading on the decentralized exchange Uniswap. This development has led to a 25% increase in the value of UNI, the governance token of the Uniswap platform.

The trading of the BUIDL token on UniswapX will allow previously qualified and whitelisted investors to trade for 24 hours using stablecoins through approved market makers. The firm Securitize will play a role in ensuring compliance throughout this process.