BlackRock's sBUIDL launches the "first direct Decentralized Finance protocol integration" on Avalanche with Euler.

PANews May 16 news, according to The Block, BlackRock’s nearly $3 billion tokenized government bond fund BUIDL announced the launch of the “first direct DeFi protocol integration” with the Euler protocol on Avalanche. This collaboration is based on the sToken framework developed by Securitize, enabling sBUIDL (the composable ERC-20 token of BUIDL) to expand on-chain application scenarios while maintaining redeemability. Through the integrated solution developed by Re7 Labs, users can now use sBUIDL as collateral to borrow USDC or AUSD on Euler, and receive AVAX rewards and the basic returns from the BUIDL fund. BUIDL is currently the largest tokenized national debt fund in the world, holding approximately $3 billion in short-term government bonds and repurchase agreements.