Decentralized exchange Curve has teamed up with Elixir to bridge traditional finance and decentralized finance (DeFi), enabling token holders to leverage BlackRock’s tokenized money market fund, BUIDL. Announced on November 29, this collaboration allows users to mint Elixir’s yield-bearing stablecoin, deUSD, using BUIDL as collateral. The minted deUSD can then be swapped for popular stablecoins like USDC, USDT, and Frax on Curve’s liquidity pools. According to Curve, institutional assets up to $1 billion can now mint deUSD, bolstering DeFi’s integration with real-world assets (RWAs). Curve currently hosts 60% of deUSD's liquidity, with liquidity providers earning competitive rewards — some APRs reach as high as 40%, according to Elixir. Tokenized RWAs like BUIDL, which invests in low-risk U.S. Treasury bills, are reshaping finance by blending traditional stability with blockchain innovation. BlackRock’s BUIDL is the largest tokenized Treasury fund, with assets under management exceeding $540 million. This move aligns with the rising demand for tokenized RWAs, which have grown to $2.5 billion in total value locked (TVL) as of November 29, reflecting a threefold increase in 2024. As tokenized RWAs open up a $30 trillion global market, Curve and Elixir’s collaboration marks a significant step toward mainstream adoption of DeFi-backed financial products.