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Securitize, the real-world asset tokenization platform behind BlackRock’s BUIDL fund, is seeking Frax Finance community approval to adopt the tokenized US treasuries fund as collateral for the Frax USD stablecoin.

Frax Finance announced on Monday that Securitize had submitted a proposal looking to integrate BUIDL with the frxUSD stablecoin.

Securitize partnered with BlackRock to launch BUIDL earlier this year, with the tokenized short-term US Treasury bills fund growing into a $530 million asset. 

Community feedback and discussion on the proposal has been strong and mostly in  support.

Per the Frax DAO community forum page, investors and FRAX holders say the integration will be key to bringing traditional finance to the expanding decentralized finance market.

BUIDL will add fiat redeemability to frxUSD.

What this means is that leading crypto exchanges and market makers could soon integrate the stablecoin, helping unlock fresh distribution.

Adding the tokenized fund as collateral to Frax USD will therefore not only help reduce counterparty risk, but also bolster yield opportunities.

According to the proposal, it also means deeper liquidity, which will benefit the community.

BlackRock’s BUIDL has over the past several months seen integrations as collateral for multiple stablecoins.

These include Elixir Protocol’s deUSD and Ethena Labs’ USDtb. 

The latter is a recently launched stablecoin primarily backed by BUIDL fund.

During its unveiling, Ethena Labs said USDtb will hold more than 90% of its reserves in the BlackRock tokenized money market Like other stablecoins, USDtb holds reserve assets to back every token.

USDtb launched in December 2024 and saw over $65 million in total value locked on its debut.

Securitize’s proposal comes as the RWA market gains massive traction with various products and funds. 

TradFi to DeFi trend is one of the driving factors for the RWA on-chain growth to a global sector of over $14.6 billion within the past year.

The tokenized US treasuries market on the other hand has grown to over $3.5 billion, with BlackRock, Franklin Templeton, Ondo Finance, Hashnote, OpenEden and Superstate key players. 

Indeed, tokenized funds provider Superstate is also one of the platforms looking to tap into frxUSD growth potential.

In its proposal, the platform said it is considering backing frxUSD with its Short Duration US Government Securities Fund (USTB).

The firm also targets its Superstate Crypto Carry Fund (USCC) for frxUSD. Notably, Superstate is eyeing $100 million of USTB and $20 million in USCC to back the Frax stablecoin.

The post Securitize proposes BlackRock’s BUIDL as collateral for FRAX stablecoin appeared first on Invezz

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