Blackrock's Buidl Fund becomes margin security at Deribit and Crypto.com

Institutional dealers on Deribit and Crypto.com can now deposit the tokenized US state fund Buidl from Blackrock as margin-an industrial life for a low-volatility, yield-prone digital securities.

The Upgradewhich still has to be approved by the CFTC, it enables hedge funds and other professionals to reduce their cash needs in the implementation of lever strategies.

Why this is important

Buidl already dominates this niche. The fund controls around 40% of the $ 7.3 billion market for tokenized government bonds and keeps about $ 2.9 billion in on-chain-T-Bills.
Tradfi meets crypto rails. Tokenized treasuries offer the return that is missing stable coins and thus deepen the overlap between conventional financial products and digital assets.
Connection to Coinbase. The message comes a few weeks after Coinbase has agreed to buy deribit for $ 2.9 billion-a deal that is expected to lead more institutions to on-chain festival products.

Growing but concentrated market

Six issuers-Blackrock, Franklin Templeton, Ondo, Superstate, Centrifuge and Circle-make up almost 90% of the tokenized US debts, which leads to centralization concerns. Ethereum holds the lion's share with $ 5.7 billion.

The next

Okx, Binance and the Defi protocol Frax have already taken steps to recognize Buidl as security. Proponents refer to the better liquidity and the lower risk of opposing risk thanks to the balance sheet total of Blackrock in the amount of $ 11 trillions. Skeptics counter that the concentration of the market on so few issuers increases the systemic risk in a supposedly decentralized ecosystem.

For the time being, the experiment to be toked to take a closer look at mainstream trading-another sign that real assets become the fastest growing area of cryptocurrencies.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.