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According to Bloomberg reports, BlackRock is expanding into crypto markets by bringing its $2.5 billion tokenized money market fund, BUIDL, to crypto exchange OKX. Under the deal, Standard Chartered will securely hold the assets, while traders on OKX can use the fund as collateral for trading. This means users can earn interest on their holdings rather than leaving funds idle on the exchange. The move highlights growing ties between traditional finance firms and the crypto industry as more Wall Street products enter digital asset markets.
In a recent tweet, OKX said that BlackRock’s digital fund called BUIDL can now be used on its exchange as collateral for trading. Users can keep earning interest on the fund while using it, instead of leaving cash idle. Standard Chartered, a major global bank, is safely holding the underlying assets.
Your collateral shouldn’t sit idle.
— OKX (@okx) April 28, 2026
BlackRock’s BUIDL is now live as yield-bearing collateral on OKX — safeguarded in Tier 1 custody with Standard Chartered.
Together, the world’s largest asset manager, a G-SIB, and global digital market infrastructure set a new blueprint for… pic.twitter.com/DK45pFALVs
In simple terms, big traditional finance companies and crypto platforms are now working together to bring real-world financial products onto blockchain networks, making crypto trading more connected with mainstream finance.
“This product was designed to minimize risk rather than add layers of risk. It becomes more efficient and productive collateral.” — Rifad Mahasneh, senior executive at OKX