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Crypto.com and Deribit Accept BlackRock’s $2.9 Billion BUIDL Tokenized Money Market Fund as Collateral for Institutional Traders
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Major cryptocurrency exchanges Crypto.com and Deribit have begun accepting BlackRock's tokenized money market fund, BUIDL, as collateral for trading. The fund, valued at $2.9 billion, represents a tokenized U.S. Treasury fund issued through the tokenization platform Securitize. This development allows institutional and experienced traders to use the BUIDL tokens as low-volatility, yield-bearing collateral, thereby reducing margin requirements for leveraged trading.
The integration marks a notable step in blending real-world assets with the digital economy, providing traders with the ability to put on-chain money market fund capital to work. Crypto.com announced the partnership with Securitize to enable BUIDL as trading collateral in select jurisdictions, while Deribit, the world's largest crypto options exchange, also joined the initiative. This move is seen as enhancing the utility of real-world assets within crypto derivatives and institutional trading environments.
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