On Tuesday, April 28, 2026, BlackRock has brought its $2.5 billion BUIDL money market fund on the crypto exchange OKX. The integration gives institutional traders a way to post yield-bearing collateral while keeping exposure to regulated financial assets.
According to a report, the structure uses a custody arrangement with Standard Chartered. The bank holds tokens of the BlackRock USD Institutional Digital Liquidity Fund in regulated custody. OKX then reflects those holdings as usable margin on its platform.
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BlackRock BUIDL Launch and Collateral Model
In March 2024, BlackRock released its first BUIDL on Ethereum. The fund provides cash, U.S. Treasury bills, and repo yield. It maintains a target value of $1 per token and pays monthly dividends in the form of new tokens.
The OKX is integrated on a collateral-mirroring framework. In 2025, OKX and Standard Chartered tried this model. The pilot capitalized on the Franklin Templeton tokenized fund of the BENJI tokenized under the VARA regulatory framework of Dubai.
Users can access it via two access routes. Under the off-exchange route, BUIDL is held in custody by Standard Chartered but is reflected in OKX as collateral. With the on-exchange route, traders are allowed to possess BUIDL directly and place it under margin.
This arrangement enables the institutions to shun idle balances on exchanges. Firms are able to fulfill margin requirements and simultaneously earn yield. The framework facilitates more optimal utilization of capital in trading strategies.
Low-Risk Structure and Treasury Integration
Rifad Mahasneh, the CEO of OKX Middle East, North Africa, and CIS, said that the product is aimed at minimizing the exposure to risks. He also mentioned that it does not introduce additional counterparty layers.
BUIDL is now a substantial tokenized money market fund on public blockchains. It works on Ethereum, Arbitrum, Avalanche, Optimism, Polygon, and Aptos. It is a yield-generating alternative to stablecoins with BlackRock and its tokenization partner.
By the end of 2025, BUIDL became integrated with platforms like Aave V4 and Sky. According to data from OKX’s own 2026 outlook research, about $2.2 billion in tokenized Treasuries are collateralized. This constitutes about 30% of on-chain holdings.
BlackRock will deal with idle capital between trades. The integration enables institutions to get yield and retain assets to be used on margin. The model is a blend of custody, liquidity, and trading accessibility.
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