At a glance
- The posted fund tokens stay in Standard Chartered's custody and continue to earn dollar yield while they support trades.
- Allocators now have two custody layers to diligence: BNY Mellon, named custodian of the fund's underlying assets at launch, and Standard Chartered, which holds the posted fund tokens.
- BUIDL is backed by cash, U.S. Treasury bills and repurchase agreements; BlackRock's March 2024 launch terms describe a fund seeking a stable $1 token value.
Eligible OKX institutional clients can post BlackRock's BUIDL, a tokenized dollar fund, as collateral while they trade, under a framework Standard Chartered announced on April 28, 2026. The posted fund tokens stay in Standard Chartered's custody and continue to earn dollar yield while they support trades.
Allocators now have two custody layers to diligence: BNY Mellon, named custodian of the fund's underlying assets at launch, and Standard Chartered, which holds the posted fund tokens. OKX describes both an off-exchange route, where tokens stay at the bank while eligible VIP and institutional clients trade on OKX Middle East, and an on-exchange route, where BUIDL is deposited and used as yield-bearing margin. The stated benefit in both routes is that dollar yield continues while the fund tokens support trading.
A permissioned dollar claim
BUIDL is backed by cash, U.S. Treasury bills and repurchase agreements; BlackRock's March 2024 launch terms describe a fund seeking a stable $1 token value. Transfers are between pre-approved investors, making BUIDL a permissioned claim on a managed dollar fund. Using that claim as margin is a different test than holding it as a cash equivalent, because the token has to sit in a custody account for as long as a trade is open.
Haircuts and eligible chains were not disclosed, and both routes remain subject to eligibility and terms.
Reported by the Tokenization desk from CryptoSlate. Published . Corrections