The post BlackRock Brings Tokenized Money Fund to OKX – Bloomberg Reports appeared first on Coinpedia Fintech News
BlackRock is expanding deeper into crypto markets by bringing its $2.5 billion tokenized money market fund, BUIDL, to crypto exchange OKX. Under the partnership, Standard Chartered will securely custody the underlying assets, while traders on OKX can use BUIDL as collateral for trading.
In a recent post, OKX confirmed that users can now use BlackRock’s BUIDL fund on the exchange while continuing to earn interest on their holdings instead of leaving funds idle. The integration gives traders access to institutional-grade collateral backed by one of the world’s largest asset managers.
According to OKX, users now have two ways to use BUIDL on the exchange:
Keep assets with Standard Chartered while using the same value as collateral on OKX.
Hold BUIDL directly on OKX and use it for trading collateral while continuing to earn interest.
In simple terms, traders can now use a BlackRock-backed digital money market fund like cash on a crypto exchange without leaving funds idle.
“This product was designed to minimize risk rather than add layers of risk. It becomes more efficient and productive collateral.” — Rifad Mahasneh, Senior Executive at OKX
The partnership highlights growing ties between Wall Street firms and crypto exchanges as more traditional financial products move onto blockchain networks. It also signals increasing adoption of tokenized real-world assets in digital asset markets.