BlackRock Fund Offered on Binance Marks Shift in Crypto Plumbing

BlackRock Inc.’s tokenized fund will be accepted as collateral on Binance Holdings Ltd., in a step that broadens access of the asset manager’s blockchain-linked products on the largest crypto trading platform and marks Wall Street’s deepening ties with the digital-asset world.

The $2.5 billion BlackRock USD Institutional Digital Liquidity Fund (ticker BUIDL) can now be used as off-exchange collateral for trading on the digital-assets platform, one of only three tokenized products available to be utilized in that capacity, according to Binance’s website.