Official announcements from Aave Labs or BlackRock

Aave Labs to Fortify GHO Stablecoin with BlackRock's $502M BUIDL Fund

Aug 27, 2024, 01:30 AM

Aave Labs has announced a new initiative to strengthen its GHO stablecoin by integrating BlackRock's BUIDL tokenized fund. This strategic move aims to anchor the GHO stablecoin with BlackRock's BUIDL shares, which are tied to $502 million in real-world assets such as T-bills and cash. The proposal is seen as a significant step towards increasing partnership opportunities between Aave and BlackRock, potentially driving the next wave of mass adoption in the crypto space. The GHO stablecoin currently has a market value of $120 million, and this development is expected to enhance its stability and appeal.