BlackRock has expanded 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.
Two ways to use BUIDL on OKX
OKX confirmed that users now have two options: keep assets with Standard Chartered while using the same value as collateral on OKX, or hold BUIDL directly on OKX and use it as trading collateral while continuing to earn interest. In both cases, traders no longer need to leave funds idle or convert to stablecoins.
“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 integration gives traders access to institutional-grade collateral backed by one of the world’s largest asset managers. Previously, exchange users typically had to use stablecoins or crypto assets as margin. BUIDL offers a lower-risk alternative that continues to earn yield.
Wall Street-crypto exchange ties tighten
The partnership signals growing ties between traditional financial institutions and crypto exchanges. BlackRock, with over $10 trillion in assets under management, is pushing its tokenized fund onto a crypto trading platform — a milestone for real-world asset tokenization. Standard Chartered's custody role adds a layer of traditional trust.
BUIDL invests in short-term U.S. Treasuries, repurchase agreements, and other low-risk instruments, aiming to provide stable returns. Integrating it into an exchange solves the trade-off between earning yield and maintaining liquidity for trading.
OKX has been ramping up its institutional services and compliance efforts. Listing BlackRock's tokenized fund is a move to attract large-scale investors who want exposure to both traditional money markets and crypto trading. As more traditional financial products migrate onto blockchain networks, the adoption of tokenized real-world assets is expected to accelerate. This collaboration could set a precedent for other exchanges and asset managers to follow.