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.
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