The real-world assets tokenization platform Securitize has reported updates regarding BlackRock's BUIDL fund, now accepted as collateral on Crypto.com and Deribit.
Expansion of BUIDL to Crypto.com and Deribit
BUIDL has become the first tokenized US Treasury fund accepted as collateral across multiple leading exchanges. This development solidifies its role in the crypto market infrastructure. Crypto.com now allows qualified institutional clients and advanced traders to use BUIDL as collateral. Similarly, institutional clients on Deribit can start posting BUIDL as collateral for futures and options trading.
Growth of BUIDL in the Crypto Market
BUIDL is a tokenized fund providing exposure to securities like US Treasury bonds, cash, and repos. Initially available only on the Ethereum network, BlackRock has expanded the fund to additional blockchains like Optimism, Polygon, and Avalanche, increasing user accessibility. Currently, BUIDL's assets under management have surpassed $1 billion.
Increasing Interest in Asset Tokenization
The growth of BUIDL indicates that asset tokenization has transitioned from a trend to a significant movement in the investment industry. By 2024, the market value of tokenized treasuries surged to $1.44 billion. This growth is supported by key tokenized products like USDY, USTB, and others. Major financial organizations are starting to explore tokenization, promising further market development.
The acceptance of BUIDL as collateral on leading crypto exchanges highlights the importance of asset tokenization. This is a crucial step in enhancing capital efficiency and risk management across trading venues.
