Catenaa, Friday, June 20, 2025- BlackRock’s tokenized money market fund, BUIDL, will soon be accepted as collateral on Crypto.com and Deribit, a move poised to reshape digital asset trading.
Backed by US Treasurys and yielding 4.5% annually, the fund offers a low-volatility alternative to traditional crypto collateral like Bitcoin and Ethereum.
The development allows traders to post income-generating, less risky assets as margin, enhancing capital efficiency while preserving yield. Securitize, which partnered with BlackRock to issue BUIDL on-chain, called it a major shift, turning tokenized securities into programmable financial instruments.
Crypto.com, which serves 140 million users globally, will allow institutional clients in select regions to use BUIDL across its trading services, including spot, margin, and OTC desks.
Deribit, the top crypto options exchange, will support BUIDL for margin in futures, options, and spot markets. Deribit CEO Luuk Strijers emphasized the appeal for institutional clients holding cash instead of volatile crypto, citing the fund’s yield as a key draw.
The move comes as Coinbase is negotiating a $2.9 billion acquisition of Deribit, potentially accelerating BUIDL’s reach across the broader US crypto market.
BUIDL, launched in March 2024, has amassed $2.9 billion in assets. Its biggest holders include Ondo Finance and Ethena Labs. Analysts say this could catalyze adoption of tokenized Treasurys in decentralized and centralized finance alike.
A report by GFMA and BCG predicts tokenized asset markets may hit $16 trillion by 2030, with tokenized securities gaining ground in real estate, carbon credits, and traditional finance.
