Crypto News: BlackRock’s Strategy to Use BUIDL as Collateral
The Growing Interest in BUIDL
Crypto news reveals that BlackRock is making waves in the financial space by reaching out to top crypto exchanges to propose the use of BUIDL as collateral for derivatives trading.
BlackRock's Collateral Strategy
The BUIDL tokenized fund, known as the BlackRock USD Institutional Digital Liquidity fund, has picked up momentum this year, marking its foothold in the crypto space as a potential alternative to Tether. According to a recent Bloomberg report, BlackRock aims to embed this fund into the fabric of crypto derivatives trading.
- BlackRock's association with Securitize is pivotal in these discussions.
- Major exchanges like Binance, OKX, and Deribit are potential partners for this initiative.
- Comments from Deribit’s CEO hint at the ongoing nature of these discussions.
However, the firm remains tight-lipped about the specifics, suggesting that details are still being ironed out.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.