Binance (BNB), the world's largest crypto exchange, integrates the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, as eligible off-exchange collateral on Binance, allowing institutional users to pledge it for trading.
BlackRock's BUIDL debuts on Binance (BNB) ecosystem: Details
According to the official statement by its team, Binance (BNB), the world's biggest cryptocurrency exchange by trading volume and user count, now accepts BlackRock's BUIDL asset as collateral for institutional operations.
The BUIDL fund by the U.S. investing heavyweight BlackRock is the biggest tokenized real-world asset product in the world.
Catherine Chen, Head of VIP & Institutional at Binance, indicates the new opportunities this integration unlocks for sophisticated traders and investors:
Our institutional clients have asked for more interest-bearing stable assets they can hold as collateral while actively trading on our exchange. Integrating BUIDL with our banking triparty partners and our crypto-native custody partner, Ceffu, meets their needs and enables our clients to confidently scale allocation while meeting compliance requirements.
Technically, the tokenized assets will be held in three-party custody during the entire procedure of collateralization.
BUIDL's integration provides the institutional clients of Binance (BNB) with better opportunities for wealth management and a more flexible collateral strategy.
RWA segment stays strong amid crypto collapse
Also, the BUIDL — which is the first tokenized RWA product unveiled by BlackRock back in March 2024 — will be released on BNB Smart Chain (BSC), an EVM L1 by Binance.
Triggered by the announcement, the segment of RWA-associated cryptocurrencies stays strong today while the rest of market plunges.
As per CoinGecko's data, RWA sphere capitalization is only down by 1% in 24 hours. To provide context, market benchmarks are down 4.7% overnight.
Bitcoin (BTC) lost 5.2% and dipped to $96,500, while Ethereum (ETH) is changing hands at $3,200.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team