BlackRock’s Tokenized BUIDL Fund Now Accepted as Collateral on Binance, Expands to BNB Chain
A significant milestone in the convergence of traditional finance and the digital asset world has been announced: Securitize, a leading platform for real-world asset (RWA) tokenization, and Binance, the world’s largest cryptocurrency exchange by trading volume and users, have confirmed that BlackRock’s tokenized money market fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), is now available as collateral for Binance’s off-exchange trading operations.
This pivotal development not only solidifies BUIDL’s standing as a fundamental pillar of on-chain finance but also empowers Binance’s global network of institutional and professional traders. They can now leverage their capital with greater efficiency, maintaining crucial investment exposure to tokenized U.S. Treasury assets while optimizing their trading strategies.
Further enhancing its accessibility and utility, BUIDL has simultaneously introduced a new share class on BNB Chain, one of the foremost blockchain ecosystems globally. This expansion significantly broadens the fund’s reach to a wider investor base and boosts its interoperability with diverse on-chain financial applications.
Industry Leaders Champion BUIDL’s Expansion
Carlos Domingo, Co-founder and CEO of Securitize, emphasized the strategic importance of this move:
“BUIDL’s expansion to BNB Chain and its application as collateral on Binance significantly enhances its coverage and practical utility. We are relentlessly focused on bringing regulated real-world assets onto the blockchain, simultaneously unlocking novel use cases that were previously unattainable.”
Catherine Chen, Head of Binance VIP & Institutional Business, highlighted the direct benefits for their clientele:
“Our institutional clients consistently seek stable, interest-bearing assets that can also serve as collateral for their trading activities. By seamlessly integrating BUIDL with our banking tripartite partners and our native crypto custody partner, Ceffu, we are directly addressing our clients’ needs, enabling them to confidently broaden their asset allocation in full compliance with regulatory standards.”
Sarah Song, Head of Business Development at BNB Chain, expressed enthusiasm for BUIDL’s integration into their ecosystem:
“BNB Chain is purpose-built for scalable, low-cost, and secure financial applications, and we are thrilled to welcome BUIDL into our ecosystem. BUIDL is fundamentally transforming real-world assets into programmable financial instruments, thereby paving the way for entirely new on-chain investment strategies.”
Robbie Mitchnick, Global Head of Digital Assets at BlackRock, underscored the broader vision behind this initiative:
“This significant milestone reaffirms our unwavering commitment to advancing tokenization beyond theoretical concepts into tangible market applications. By enabling BUIDL to function as collateral within leading digital market infrastructure, we are actively facilitating the integration of foundational elements from traditional finance into the burgeoning on-chain financial landscape.”
Understanding BUIDL: BlackRock’s Digital Asset Pioneer
Launched in March 2024, BUIDL represents BlackRock’s inaugural tokenized fund issued on a public blockchain. Tokenized by Securitize, the fund offers eligible investors USD-denominated yield, complemented by flexible custody solutions, daily distributions, and round-the-clock, peer-to-peer transfer capabilities.
This latest integration builds upon BUIDL’s existing support across a multitude of prominent networks, including Arbitrum, Aptos, Avalanche, Ethereum, Optimism, Polygon, and Solana, showcasing its broad interoperability and growing ecosystem.
◈ Explore BUIDL on BNB Chain ◈ Learn About Binance Triparty Custody ◈
(Content provided by Binance)
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