According to Bloomberg, informed sources have revealed that asset management company BlackRock and its brokerage partner Securitize are in preliminary negotiations with some large cryptocurrency exchanges to use BlackRock's new BUIDL token as collateral for derivative trading. These exchanges include Binance, OKX, and Deribit. BlackRock's token has a minimum investment of $5 million and is designed specifically for qualified institutional investors. Two brokers, FalconX and HiddenRoad, have allowed their clients (including hedge funds) to use BUIDL as collateral. Custodian Komainu announced on Thursday that clients eligible to invest in BUIDL will be able to use the token as collateral for trading through HiddenRoad. Like other money market funds and most stablecoins, BUIDL has a value of $1 and its investment targets include US Treasury bills, cash, and repurchase agreements. @rusia