BlackRock is in discussions with major crypto exchanges, including Binance, OKX, and Deribit, to integrate the BUIDL fund as collateral for Binance, OKX, and Deribit.

This means traders can use BUIDL instead of USDT or USDC when trading derivatives, providing additional liquidity.

BUIDL is a tokenized fund backed by safe investments such as US government bonds and is intended for institutional investors (minimum $5 million).