BlackRock's $530MM BUIDL fund to open minting of $deUSD yield-bearing synthetic dollar in partnership with Elixir and Curve

BlackRock’s tokenized U.S. Treasury fund BUIDL, which holds around $530 million in assets, is being integrated into a new DeFi structure that will allow users to mint deUSD, a yield‑bearing synthetic dollar, in partnership with Curve Finance and Elixir. BUIDL is BlackRock’s on-chain fund that tokenizes short‑term U.S. Treasuries and cash equivalents; the new setup effectively uses BUIDL as high‑quality collateral within a DeFi protocol stack to back a synthetic dollar asset while passing through underlying yield. The arrangement is being reported within the Curve ecosystem as a joint initiative among BlackRock, Curve, and Elixir, with Curve’s infrastructure and liquidity pools expected to play a central role in trading and stability for deUSD. Functionally, deUSD is positioned as a synthetic, over‑collateralized dollar-like asset that derives its value and yield from tokenized real‑world assets (RWAs), in this case the BUIDL fund, rather than from traditional bank deposits. This design aims to combine the perceived safety of U.S. Treasuries with DeFi composability, potentially offering on-chain users dollar exposure plus yield without direct interaction with traditional financial intermediaries. The partnership illustrates how large asset managers like BlackRock are moving deeper into tokenized RWA and DeFi integrations, while protocols such as Curve and Elixir seek to use institutional‑grade collateral to support new stable and yield‑bearing instruments.

✨ AI-generated background, compiled from web sources — not editorial content.

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