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BlackRock BUIDL Collateral Offers Dollar Alternative to ETH on OKX
BlackRock’s tokenized fund BUIDL allows eligible institutional clients on OKX to post yield-bearing fund tokens as trading collateral. Under an arrangement with Standard Chartered, clients can keep BUIDL tokens in off-exchange custody while continuing to earn dollar yields. This collateral framework offers a dollar-based alternative to using ETH as collateral, contrasting with monetary arguments published by Vitalik Buterin on November 8. Launched in March 2024, BUIDL maintains a target value of one dollar per token backed by cash, U.S. Treasury bills, and repurchase agreements. On November 9, Ethereum hosted 15 billion dollars in distributed asset value and 139 billion dollars in stablecoin market capitalization.