Hanoi, February 12, 2026 – BlackRock, the global asset management giant, continues to affirm its pioneering position in the decentralized finance (DeFi) sector by collaborating with Uniswap Labs and Securitize. This move paves the way for trading U.S. Treasury bond funds tokenized – BlackRock USD Institutional Digital Liquidity Fund (BUIDL) – directly on the blockchain through UniswapX.
According to the official announcement from Uniswap Labs on February 11, 2026, shares of BUIDL will be exclusively distributed to qualified investors through UniswapX – an advanced off-chain order routing system. UniswapX not only aggregates liquidity but also executes transactions directly on the blockchain, providing greater efficiency for large trades.
Uniswap, currently one of the leading decentralized exchanges (DEX) in the world by trading volume, operates based on an automated market maker (AMM) model. With UniswapX, the platform is transforming to better suit institutional needs, allowing market makers to compete on quotes through an auction mechanism. BUIDL transactions will be conducted under a "request-for-quote" (RFQ) model through Securitize Markets, connecting verified institutions and completing on-chain payments via smart contracts.
Institutional market makers such as Wintermute, Flowdesk, and Tokka Labs will participate in quoting, helping to enhance liquidity depth compared to the traditional AMM model. BlackRock has also revealed that it has invested an undisclosed amount of UNI tokens, contributing to the growth of the Uniswap ecosystem.
This information has immediately impacted the market. The price $UNI skyrocketed from around 20% to nearly 30% within 24 hours, before a slight adjustment back to the initial level. According to data from CoinGecko at 08:15 AM on 12/02/2026, the price fluctuation of UNI reflects strong interest from the investment community.
This is the first time BlackRock has directly integrated its tokenized products with a large-scale DeFi platform. Previously, BUIDL supported on-chain transfers and participated in liquidity mining, but had never directly engaged with a DEX like Uniswap. The BUIDL fund, issued by Securitize, is backed by US Treasury bonds and cash equivalents. With total assets under management of approximately 2.4 billion USD as of 11/02, BUIDL is not only the largest institutional tokenized fund on public blockchain but also profitable, reflecting yields from US government bonds – a stark difference from conventional stablecoins.
Recently, BlackRock has expanded BUIDL to blockchains like BNB Chain and Solana, while also integrating with other DeFi protocols such as Euler through wrapped versions. Securitize, as a licensed broker and alternative trading system (ATS) in the US, ensures the layer of tokenization and legal compliance. Investors participating through UniswapX will be vetted and whitelisted to maintain legal control, while also leveraging DeFi infrastructure.
This collaboration not only marks a new advancement for BlackRock in connecting traditional finance with DeFi, but also strengthens Uniswap's position as a bridge between institutions and the decentralized community. With the growth of real-world asset tokenization (RWA), such moves are expected to boost liquidity and innovation in the blockchain ecosystem.
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