Elixir and decentralized exchange Curve have partnered to enhance access to decentralized finance (DeFi) for BlackRock's tokenized money market fund, BUIDL. Starting on November 29, token holders will be able to mint Elixir's yield-bearing stablecoin, deUSD, using BUIDL and exchange it for other stablecoins like USD Coin, Tether, and Frax on Curve's liquidity pools. Liquidity providers can earn rewards, with potential annual percentage rates (APRs) reaching as high as 40% for deUSD stakers. BUIDL, which is tokenized by Securitize, primarily invests in short-dated U.S. Treasury bills and is the largest tokenized Treasury fund, with assets under management (AUM) surpassing previous funds. The demand for such tokenized real-world assets (RWAs) is increasing, leading to significant growth in the tokenized Treasury products market, which has seen its total value locked (TVL) triple since the beginning of 2024 to approximately $2.5 billion. This partnership aims to better facilitate low-risk yield opportunities from Treasury instruments.

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