Binance now accepts BlackRock’s BUIDL as off-exchange collateral, allowing institutions to trade on the exchange while keeping assets with custodians. The integration offers traders yield on BUIDL while using it for trading positions. BUIDL will launch on BNB Chain, expanding its reach beyond Ethereum. BlackRock’s BUIDL is the world’s first onchain liquidity fund.

Tokenized treasuries are gaining popularity as Binance joins exchanges allowing qualified clients to use Treasury-backed tokens as collateral. Deribit and Crypto.com also accept BUIDL as collateral, offering institutional traders a low-volatility asset. Bybit supports QCDT, a tokenized money-market fund backed by US Treasurys. Tokenized US Treasurys are the second-largest real-world assets beyond stablecoins.

The tokenized funds, led by BlackRock’s BUIDL, have a total value of about $2.52 billion. Circle’s USYC follows with $1.06 billion, and Franklin Templeton’s BENJI has $850 million. The rise of tokenized treasuries reflects traditional finance practices of using Treasurys and money-market funds as collateral.

Read more at Cointelegraph: Binance Adds BlackRock’s BUIDL as Off-Exchange Collateral for Institutions