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Binance (BNB), the world’s largest crypto exchange, integrates the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, as eligible collateral off-exchange on Binance, allowing institutional users to commit to trade.
BlackRock’s BUIDL Debuts on Binance Ecosystem (BNB): Details
According to the officer declaration from his team, Binance (BNB), the world’s largest cryptocurrency exchange by trading volume and number of users, now accepts BlackRock’s BUIDL asset as collateral for institutional operations.
The BUIDL fund from the US investing heavyweight BlackRock is the largest tokenized real asset product in the world.
Catherine Chen, Head of VIP & Institutional at Binance, points out the new opportunities this integration unlocks for sophisticated traders and investors:
Our institutional clients have requested more stable, interest-bearing assets that they can hold as collateral while actively trading on our exchange. BUIDL’s integration with our tripartite banking partners and our crypto-native custody partner, Ceffu, meets their needs and allows our clients to confidently scale allocations while meeting compliance requirements.
Technically, the tokenized assets will be held in three-party custody throughout the collateralization procedure.
The integration of BUIDL provides institutional clients of Binance (BNB) with better opportunities for wealth management and a more flexible collateral strategy.
The RWA segment remains strong in the crypto collapse
In addition, the BUIDL – which is the first tokenized RWA product unveiled by BlackRock in March 2024 – will be released on BNB Smart Chain (BSC), a L1 EVM from Binance.
Triggered by the announcement, the cryptocurrency segment associated with RWA remains strong today while the rest of the market is falling.
According to CoinGecko’s dataThe capitalization of the RWA sphere is only for 1% in 24 hours. To provide context, market benchmarks fell 4.7% overnight.
Bitcoin (BTC) lost 5.2% and plunged to $96,500, while Ethereum (ETH) changed hands at $3,200.
