BlackRock Brings $2.5B Crypto Collateral Fund To OKX
BlackRock has brought its $2.5 billion tokenized money market fund, BUIDL, to OKX, allowing eligible clients to use the fund's tokens as collateral for trading. BUIDL invests in cash, US Treasury bills, and repurchase agreements, and is designed to maintain a stable $1 net asset value.
BlackRock is expanding its presence in the crypto market infrastructure by introducing its $2.5 billion tokenized money market fund, BUIDL, to OKX. Eligible clients can now use BUIDL tokens as collateral on OKX, generating income while posted for margin. BUIDL invests in cash, US Treasury bills, and repurchase agreements. The fund is designed to maintain a stable $1 net asset value and is available to qualified investors. Standard Chartered holds the underlying assets in regulated custody. The arrangement allows clients to choose between keeping BUIDL off-exchange with Standard Chartered or holding it directly on OKX as yield-bearing margin.
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