According to Techub News, Nader, the placement agent of Securitize BlackRock Tokenized Fund BUIDL, initiated a proposal in Frax Finance to "introduce BlackRock Tokenized Fund BUIDL as an on-chain supporting asset for frxUSD." BUIDL is a tokenized U.S. Treasury product. BUIDL will invest all of its total assets in cash, U.S. Treasury bills, notes and other debts issued or guaranteed by the U.S. Treasury, and repurchase agreements secured by such debts or cash.