Standard Chartered, BlackRock, OKX Pioneer Tokenized Treasury Collateral

Standard Chartered announced a new framework enabling institutional clients to use BlackRock's tokenized short-term U.S. Treasury fund as collateral on the crypto trading platform OKX.

The collaboration involves Standard Chartered, BlackRock, and OKX. VIP and institutional clients on OKX Middle East can now utilize BlackRock's USD Institutional Digital Liquidity (BUIDL) Fund for trading activities.

Standard Chartered will act as custodian for this off-exchange collateral arrangement, described as the first of its kind backed by a globally systemically important bank.

This system aims to minimize the need for clients to move assets between custodians and trading venues, while preserving external protections. BlackRock's tokenized fund consists of cash, U.S. Treasury bills, and repurchase agreements, with yields distributed on-chain.