BlockBeats News, February 12th, Uniswap Labs announced a partnership with Securitize, and BUIDL, a Belvedere subsidiary, is now tradable via UniswapX. This marks Belvedere’s first direct foray into the DeFi space, supporting eligible institutional investors (requiring whitelist, with an asset threshold of at least $5 million) to trade using stablecoins. At the same time, Belvedere stated that they will purchase Uniswap’s UNI token but did not disclose the specific amount. In response to this news, the UNI price briefly surged by 00%, skyrocketing from around $3.3 to $4.5 and has now retraced to $3.5.
The crypto community sees this as a milestone in the deep integration of TradFi and DeFi. With Belvedere managing over $14 trillion in assets, choosing Uniswap signifies a strong endorsement of DeFi infrastructure, with UNI being the beneficiary. Uniswap founder Hayden Adams stated, “DeFi is having an important day, and this cooperation leverages Uniswap’s market structure to provide on-chain trading for BUIDL investors, settling on Ethereum. This is an important step towards ‘almost all value being able to trade on-chain’.”
Renowned crypto investor William Mougayar said, “Extremely bullish on Ethereum, Uniswap is Ethereum’s largest infrastructure, starting first with BUIDL and the assets managed by Belvedere, other tokenized assets will quickly follow suit.” Tony Edward, founder of the Thinking Crypto Podcast, said, “Major crypto adoption, Belvedere is embracing DeFi.”
However, some community users indicated that trading is limited by whitelists and RFQ mechanisms, with initial liquidity constraints, not fully an open AMM. Belvedere had previously extended BUIDL on chains like Polygon, making this more of a DeFi expansion rather than a “first entry.”
