According to RWA.XYZ, BlackRock's US dollar Institutional Digital Liquidity Fund has roughly $549 million in assets under management.
Securitize, the brokerage firm for the tokenized BlackRock US dollar Institutional Digital Liquidity Fund (BUIDL), has submitted a Frax improvement proposal to add BUIDL as backing collateral for the Frax USD stablecoin.
According to the improvement proposal, using BUIDL as a collateral reserve asset provides yield opportunities, deeper liquidity and transfer options, and reduced counter-party risk due to the backing of the world's largest asset manager, BlackRock.
The proposal is still subject to a community vote before BUIDL — which invests in United States government securities — is added as a reserve asset for the proposed Frax USD stablecoin.
