MakerDAO's $1B Tokenized Treasury Investment Plan Sparks Interest from BUIDL, Ondo, and BlackRock's Superstate
The MakerDAO competition to allocate funds will open next month and would give a big boost to the $1.8 billion tokenized real-world asset space.
Cryptocurrency lending platform MakerDAO, the protocol behind the $5 billion DAI stablecoin, plans to invest $1 billion of its reserves in tokenized US Treasury products.
Major players in the sector, including BlackRock's BUIDL, Superstate and Ondo Finance, are lining up to apply for the proposal.
“We think it is a very good initiative from MakerDAO and we are excited to participate with Blackrock's BUIDL,” said Carlos Domingo, CEO of tokenization platform Securitize, BlackRock's issuing partner, in an email to CoinDesk. “As the leading issuer of tokenized Treasuries, we will certainly apply.”
“Superstate's USTB is an ideal partner for MakerDAO,” Robert Leshner, founder of Superstate, told CoinDesk. “We are excited that MakerDAO is creating an open process where we can introduce USTB to the community.”
Ondo Finance (ONDO), the $550 million RWA platform, also plans to participate. "It's a natural fit for our mission to deliver institutional-grade financial products and services to everyone," said Nathan Allman, founder of Ondo Finance, in a Telegram message. "We are looking forward to participating."
