Crypto exchanges Crypto.com and Deribit have announced the acceptance of BlackRock's tokenized money market fund, known as BUIDL, as collateral for trading. This decision opens new opportunities for investors and changes the game in the crypto industry.
BUIDL Acceptance on Crypto Exchanges
BUIDL, BlackRock's first Ethereum-based tokenized money market fund, will soon be accepted as collateral on major crypto exchanges Crypto.com and Deribit. As noted by Michael Sonnenshein, COO of Securitize, this marks a 'major turning point' for the entire industry.
Benefits of BUIDL
BUIDL will provide a new, stable alternative for collateral on exchanges. The token offers an annual yield of around 4.5%, surpassing most traditional bank offerings. Moreover, with lower minimum collateral requirements, investors can use their funds more efficiently.
Real-World Asset Tokenization Outlook
According to RWA.xyz, the real-world asset tokenization sector has reached a record of $24 billion, growing by over 50% since the beginning of the year. BUIDL holds the largest market share at 12%. Ethereum remains the standard in the tokenization sector, holding nearly 60% of the market share.
In conclusion, the acceptance of BUIDL as collateral on cryptocurrency exchanges is an important step in the development of tokenized assets and opens new horizons for investors, allowing more efficient capital management.
