Binance and BlackRock's mutual collaboration this time feels like a milestone partnership in the tokenized real-world assets (RWA) track. BlackRock, as the world's largest asset management company, currently manages $13 trillion in assets. Meanwhile, BUIDL is BlackRock's tokenized U.S. short-term treasury fund. It's currently the largest tokenized fund, with a scale of $2.5 billion. Holding BUIDL tokens on-chain allows you to enjoy U.S. treasury yields. This time, BlackRock not only chose to collaborate with Binance, making BUIDL an off-chain settlement collateral for trading on Binance, but also plans to launch a new BUIDL asset category on the BNB Chain. In other words, holding BUIDL can be used as collateral for borrowing/trading and other activities, while also adding a significant amount of high-quality, stable-yield financial products to the BSC ecosystem. Although the annual yield of 4–5% might not seem high in the crypto space, it's still very attractive to traditional clients seeking stable returns. Moreover, this approach bridges traditional finance with the crypto world, undoubtedly bringing a wave of high-net-worth fresh blood into the crypto space.