The adoption of tokenized money-market funds as collateral is gaining momentum in the cryptocurrency exchange sector, with major players like Binance leading the charge. According to the official information, this shift reflects a growing trend towards integrating traditional financial practices into the digital asset space.
Binance Joins the Trend of Treasury-Backed Tokens
Binance has recently joined the ranks of exchanges allowing qualified clients to utilize Treasury-backed tokens as collateral. This move follows similar initiatives by Deribit and Crypto.com, which began accepting BUIDL tokens in July, offering institutional traders a stable, yield-generating alternative to cash and stablecoins.
Bybit Embraces Treasury-Backed Tokens
By September, Bybit also embraced this trend by supporting QCDT, a DFSA-approved tokenized money-market fund backed by US Treasuries. This development highlights a significant shift in the crypto landscape, as exchanges increasingly adopt collateral options that mirror those used in traditional finance, where Treasuries and money-market funds are commonly pledged as security.
The recent decline in Cosmos (ATOM) price, now in the $2.60 range, contrasts with the positive developments in the cryptocurrency sector highlighted in the previous news. For more details, see read more.
