đ **Crypto News Flash: BlackRock's BUIDL Token Aims for Derivatives Market!** đ
- BlackRock is in talks with major crypto exchanges like Binance, OKX, and Deribit to use its BUIDL token as collateral in cryptocurrency derivatives trades, according to Bloomberg.
- BUIDL, designed for institutional investors with a minimum investment of $5 million, represents BlackRockâs USD Institutional Digital Liquidity Fund.
- Unlike traditional stablecoins like USDT, BUIDL pays interest, making it attractive for derivatives traders.
- Prime brokers FalconX and Hidden Road, along with custodian Komainu, already accept BUIDL as collateral.
- With crypto derivatives accounting for over 70% of all crypto trading volume, BUIDL's acceptance could position BlackRock as a major market player.
đŹ What do you think? Will BUIDL challenge USDT's dominance? Share your thoughts in the comments!