BlackRock’s BUIDL Fund Joins Euler Finance for On-Chain Collateralization

BlackRock’s tokenized money market fund, BUIDL, has made its debut in the decentralized finance (DeFi) sector through a significant integration with Euler Finance. This move marks a historic milestone as sBUIDL, a token backed 1:1 by BlackRock’s BUIDL and issued by Securitize, is now live on the Euler protocol. This integration was facilitated by Re7 Labs and is currently operational on the Avalanche (AVAX) blockchain. Users can leverage sBUIDL as collateral to borrow USD Coin (USDC) or AUSD, while simultaneously earning rewards in AVAX.