BlackRock ETF Tokenized on Uniswap
Fink wasn't lying.
Tokenization of securities will be the next evolution in markets - BlackRock CEO
The question remains: Why? Fink says it's about fees and speed of settlements.
BlackRock has become increasingly more involved in the crypto industry over the past couple of years. On Sept. 27, the firm announced the launch of an ETF that would give investors exposure to 35 blockchain-related companies, and on Nov. 3, BlackRock announced that it was selected to manage the reserve fund for Circle’s USD Coin (USDC).
Fink also suggested that while the future is in tokenization, the majority of projects that currently exist wouldn’t be able to benefit from its integration into wider society, saying that most crypto-related companies “are not going to be around” in the future.
Speaking more specifically about the ongoing collapse of FTX, Fink suggested that the crypto exchange failed because it created and leveraged its own FTX Token (FTT). This created a degree of centralization that put the platform at odds with the “whole foundation of what crypto is,” he said.
Uniswap also has its own token. Fink is playing a sleight of mind. It isn't the existence of platform tokens themselves, it's what they do with them; paying trading fees with such tokens is no bad thing and avoids micro-transactions in 1000s of other tokens.
Leveraging FTX's market cap through multiple funding rounds, and thereby encouraging a bunch of amateurs to think that their token was worth the same, was also a VC sleight of money.
And just to keep everything within the family: Uniswap’s Mary-Catherine Lader explains why she left BlackRock for crypto
No nepotism then.
But why? Why have shares and then tokens of said shares?
Unless the tokens are traded on a more manipulated exchange - or a cheaper exchange with fewer rules.
;-)
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