BlackRock is in talks with major exchanges to use its digital token BUIDL as collateral in crypto derivatives trading. It aims to integrate with platforms such as Binance, OKX and Deribit. The move will increase competition with stablecoins. According to CCData, derivatives accounted for 70% of total crypto trading volume in September. BUIDL is already accepted as collateral by FalconX and Hidden Road. The CFTC’s approval of the use of digital assets as collateral could be a significant step in integrating traditional and crypto markets. We welcome your comments.