BlackRock Money Market Fund BUIDL can be used as contract and option trading margin for the first time

BlockBeats News: On June 18th, according to Forbes, BUIDL, BlackRock's first public blockchain based money market fund (launched in collaboration with tokenization agency Securitize), will soon become a recognized pledged asset for the trading platform (Crypto.com) and Deribit. This means that institutions and professional traders can now use interest bearing, blockchain native US treasury bond token as trading margin. Due to the low volatility (current annualized return of approximately 4.5%) and return attributes of BUIDL, the exchange can lower the minimum pledge requirement and release more funds for other investments. Since its launch in March 2024, BUIDL's management scale has grown to $2.9 billion. Its main holders include Ondo Finance, a real-world asset tokenization platform, and Ethena Labs, the issuer of stablecoin USDe. (Crypto.com) President and Chief Operating Officer Eric Anziani revealed that this trading platform, which serves over 140 million users, will open BUIDL staking to institutional clients in selected jurisdictions, covering a full range of services including spot, leverage, derivatives, and over-the-counter trading. Deribit, the top cryptocurrency options trading platform with a trading volume exceeding $1.1 trillion by 2024, will allow institutional clients to use BUIDL as margin for futures options trading and launch spot trading. Previously, the vast majority of pledged assets on the platform were Bitcoin.