BlackRock Money Market Fund BUIDL can be used for contract and Options Trading Margin for the first time.

On June 18, Forbes reported that BlackRock’s first money market fund based on public blockchain, BUIDL (launched in partnership with tokenization agency Securitize), will soon become an approved pledge asset for trading platforms CEXs and CEXs. This means that institutional and professional traders can now use interest-bearing, blockchain-native U.S. Treasury tokens as trading margin. Due to the combination of low volatility (current annualized return of about 4.5%) and yield attributes, exchanges can lower the minimum staking requirements and free up more funds for other investments. Since its launch in March 2024, BUIDL has grown to $2.9 billion under management. Its main holders include Ondo Finance, a real-world asset tokenization platform, and Ethena Labs, the issuer of stablecoin USDe. Eric Anziani, president and chief operating officer of CEX, revealed that the exchange, which serves more than 140 million users, will open BUIDL staking to institutional clients in selected jurisdictions, covering a full range of services such as spot, leverage, derivatives and over-the-counter trading. CEX – the top crypto options trading platform with a trading volume of more than $1.1 trillion in 2024 – will allow institutional clients to use BUIDL as margin for futures options trading, with spot trading live. Previously, the vast majority of collateral in the platform’s history was Bitcoin.