OKX has added BlackRock’s BUIDL tokenized U.S. Treasury fund to its institutional collateral framework with Standard Chartered. The move allows eligible institutional and VIP clients to use BUIDL as trading margin.
Summary
- OKX now lets eligible institutional and VIP clients use BlackRock’s BUIDL fund as trading collateral.
- Standard Chartered will custody BUIDL off-exchange while OKX manages margining and liquidation processes.
- BUIDL will be treated like USD, USDC and other dollar assets inside OKX’s margin system.
Clients can hold the asset off-exchange with Standard Chartered while trading on OKX Middle East. They can also deposit BUIDL directly on the exchange, depending on their setup.
The companies described the arrangement as a G-SIB bank-backed off-exchange tokenized collateral framework. It builds on OKX’s existing collateral mirroring program with Standard Chartered.
Rifad Mahasneh, CEO of OKX Middle East, North Africa and CIS, said the update shows how tokenized assets can support active trading instead of staying idle.
He said BUIDL will be treated as fungible with USD, USDC and other dollar-based stablecoins inside OKX’s margin system. Clients will keep ownership of the fund and its yield.
Standard Chartered holds client collateral
Standard Chartered will act as the off-exchange custodian. The bank will hold client collateral separately from OKX’s own assets.
OKX will manage real-time margining and liquidation through its internal risk systems. Mahasneh said the structure follows traditional finance standards, though details on stress-period margin calls were not provided.
Tokenized Treasury competition grows
BlackRock’s BUIDL fund is tokenized by Securitize. It invests in cash, U.S. Treasury bills and repurchase agreements, with yield distributed onchain.
The launch adds to growing use of tokenized real-world assets in crypto market infrastructure. Binance has also added tokenized Treasury products, including BUIDL and Franklin Templeton’s BENJI fund, to collateral frameworks.
OKX said the service is live for eligible institutional and VIP clients through OKX Middle East. The company plans to expand access based on jurisdiction and client demand.
