Securitize Markets, the transfer agent and broker-dealer for the BlackRock USD Institutional Digital Liquidity Fund and its BUIDL token, has submitted a new Frax Finance governance proposal. The proposal states: "In addition to providing Frax USD utility, relative security, and convenience, Frax USD can significantly reduce counterparty risk for its reserves by working with BlackRock." If the proposal is passed, Frax USD will follow the example of stablecoins such as Ethena's USDtb and adopt BUIDL tokens as backing assets. BUIDL currently manages more than $530 million worth of assets, mainly short-term U.S. Treasury bills. Although the proposal has not yet been voted on, early reactions from Frax Finance DAO members are generally positive.