Big news for the crypto world: BlackRock, the biggest asset manager in the world, is talking to crypto exchanges about using its own token, BUIDL, as collateral for trading.
What’s BUIDL? It’s a tokenized money market fund that’s designed to be worth $1 per token. It’s built on the Ethereum blockchain and offers yields to traders.
Why is this big? It means BlackRock is taking crypto seriously and is looking for ways to integrate it into its existing business. This could be a major step towards mainstream adoption of crypto.
Who are they talking to? Some of the biggest names in crypto, including Binance, OKX, and Deribit.
What does this mean for the future? It’s still early days, but this could mean that more institutional investors will start using crypto in the future.
What’s next?
We’ll have to wait and see if BlackRock and the exchanges can come to an agreement. But this is a big step forward for the crypto industry. /p>
