OKX expands tokenized RWA capabilities with BlackRock’s BUIDL, backed by Standard Chartered
OKX has integrated BlackRock’s BUIDL tokenized U.S. Treasury fund into its institutional collateral framework in partnership with Standard Chartered, enabling eligible institutional and VIP clients to use BUIDL as margin for trading on OKX Middle East.
How it works
- Clients can keep BUIDL off-exchange with Standard Chartered—trading on OKX while the bank holds the asset—or, depending on their setup, deposit the tokenized fund directly on the exchange.
- Standard Chartered will act as the off-exchange custodian and keep client collateral segregated from OKX’s own assets, establishing what the firms call a G‑SIB (Global Systemically Important Bank)-backed off-exchange tokenized collateral framework.
- OKX will run real-time margining and liquidations through its internal risk systems, and BUIDL will be treated as fungible with USD, USDC and other dollar-based stablecoins within OKX’s margining architecture. Clients retain ownership of the fund and continue to receive its yield.
The asset and mechanics
- BUIDL is BlackRock’s tokenized U.S. Treasury fund (tokenized by Securitize). The fund invests in cash, U.S. Treasury bills and repurchase agreements, and distributes yield onchain.
- OKX says the arrangement builds on its existing collateral mirroring program with Standard Chartered and follows traditional finance standards, though specifics around stress-period margin calls were not disclosed.
Why it matters
- The move illustrates how tokenized real-world assets (RWAs) are being woven into crypto market infrastructure to serve as active, liquid collateral rather than idle holdings.
- It also reinforces a trend of major crypto exchanges adopting tokenized Treasury products: Binance has likewise incorporated tokenized Treasury offerings—including BUIDL and Franklin Templeton’s BENJI—into its collateral frameworks.
Availability
- The service is live now for eligible institutional and VIP clients through OKX Middle East, with plans to broaden access based on jurisdictional constraints and client demand.
This integration marks another step toward mainstreaming tokenized RWAs as functional components of trading and risk systems in digital-asset markets.
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