OKX Partners with BlackRock and Standard Chartered, Tokenization of BUIDL as a Guarantee for Crypto Trading

Photo: Special

JAKARTA - The OKX crypto asset trading platform has launched a new framework with BlackRock and Standard Chartered to integrate the tokenized US short-term debt fund, BUIDL, as collateral in trading activities.

This step is a breakthrough because for the first time a bank of the globally systemically important bank (G-SIB) category acts as a custodian in an asset-based digital guarantee scheme.

Through the scheme, OKX institutional investors and VIP clients can store collateral assets in a regulated custodian outside the exchange (off-exchange), but can still conduct transactions in an integrated manner without having to move assets between platforms.

BUIDL which is developed by BlackRock and tokenized by Securitize can be used as yield-bearing collateral, so that previously unproductive margins can now generate returns.

"This framework opens up new opportunities for investors to utilize its guarantees while gaining exposure to short-term US debt through the blockchain," said BlackRock's Global Head of Market Development, Samara Cohen.

From the market side, this integration is considered to increase capital efficiency while reducing risk, especially with the involvement of Standard Chartered as a global custodian.

OKX's Global Managing Partner Haider Rafique said tokenization of real-world assets (RWA) will make the market more efficient and transparent.

"This shows how traditional financial instruments can operate seamlessly in the digital market," he said.

This collaboration is considered a strategic step in bridging the traditional financial sector (TradFi) and the crypto ecosystem, as well as accelerating the adoption of tokenization in global market infrastructure.