Cryptocurrencies are entering a new phase in their relationship with trillion-dollar giants in the real world. Government recognition and the view of these giants seeing this space as “new finance,” especially in the RWA sector, have elevated crypto to a new level. BlackRock is waiting at the door of this altcoin, hoping to be chosen.
MakerDAO (MKR)
We all know the stablecoin DAI, which is issued by MakerDAO. This stablecoin remains strong thanks to its reserves held in US Treasuries. After witnessing alternatives holding reserves in Bitcoin or other assets and then collapsing, holding billions of dollars in US Treasuries, which are the quickest and easiest to liquidate, makes sense.
The entity behind the $5 billion DAI plans to convert $1 billion of its reserves into “tokenized US Treasuries.” BlackRock’s BUILD tokenized fund is an excellent alternative for this, but it is not alone. Players in this space, including Superstate and Ondo Finance, are lining up. As we reported recently, BUILD surpassed the $500 million mark, and if it can convince MakerDAO, the fund could suddenly jump to $1.5 billion, growing by 300% in a few days. This would certainly support BUILD’s faster global growth.
BlackRock‘s tokenization platform partner, Securitize, has its CEO Carlos Domingo stating;
“We think this is a great move by MakerDAO, and BlackRock’s BUIDL will be involved here.”
The DAO collecting proposals next month could make a significant impact in the $1.8 billion tokenized real-world assets sector. MKR Coin price has already increased by 5% and surpassed the $2.5 threshold.
