BlackRock's BUIDL fund gets a weekend USDC exit through Securitize and Ethena

Eligible holders of BlackRock’s BUIDL can now swap BUIDL for USDC and other stablecoins after banking hours and on weekends. The facility was created by Securitize and Ethena and was launched on Thursday. The pool started with $50 million of funding against a $100 million cap. Securitize runs the facility and Ethena backs it Approved investors can trade BUIDL for supported stablecoins like USDC or convert those stablecoins back into BUIDL, according to the Securitize announcement . Securitize operates the facility, and Ethena is the backer. The facility grants investors access to liquidity on Saturday or Sunday without having to wait for markets to open on Monday. “Tokenization is about more than putting assets onchain. It’s about making those assets more useful,” said Carlos Domingo, co-founder and CEO of Securitize.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cryptopolitan.