Crypto exchange OKX has added BUIDL, a tokenized money market fund from BlackRock with about $2.5 billion in assets, to its collateral framework with Standard Chartered. The setup allows eligible institutional and VIP clients to use it as trading margin while it remains held off-exchange with the bank.

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The move builds on an existing partnership between the two firms. Last year, Standard Chartered became an institutional custodian for OKX in the European Economic Area after securing regulatory approval in Luxembourg to offer digital asset custody services. The step marked the bank’s entry into the European Union as the Markets in Crypto-Assets framework began to take effect.

Tokenized Treasuries Enter Margin System

The companies said in a release today (Tuesday) that clients can post BUIDL as collateral held with Standard Chartered while trading on OKX Middle East, or deposit it directly on the exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term. They described the setup as the first such framework backed by a globally systemically important bank.

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The arrangement reflects an effort to make tokenized real-world assets usable in trading infrastructure. It enables a yield-bearing fund to be used as collateral while remaining in regulated custody, making such instruments more practical for trading and risk management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term.

One issue the model addresses is how trading capital is used. Cash posted as margin on crypto exchanges typically earns little or no return. Converting it into a tokenized money market fund backed by US Treasuries and repurchase agreements allows institutions to retain yield while supporting trading activity.

Rifad Mahasneh, CEO for OKX Middle East, North Africa and CIS, said BUIDL is treated as fungible with dollar-based assets such as stablecoins, while clients “retain ownership of the asset and its yield.”

BlackRock is bringing its roughly $2.5 billion money market fund to cryptocurrency exchange operator OKX https://t.co/DqRmNTU4NH

— Bloomberg (@business) April 28, 2026

Tokenized Treasury Collateral Competition Grows

The move adds to competition among exchanges. Binance has introduced similar integrations of tokenized treasury products, including funds from BlackRock and Franklin Templeton, into off-exchange collateral frameworks.

The BUIDL fund, tokenized by Securitize, invests in cash, US Treasury bills and repurchase agreements, with yield distributed onchain.

Standard Chartered acts as the off-exchange custodian, holding client collateral separately from the exchange’s own assets, while OKX manages margining and liquidation through its internal risk systems. Mahasneh said the structure aligns with traditional finance standards but did not detail margin calls during periods of market stress.