Oh, lovely – just when you thought the wild, wild west of crypto couldn’t get any more confusing, in storms BlackRock (yes, that BlackRock) with its $2.9 billion tokenized money market fund, cheerfully named BUIDL. Apparently, even acronyms are getting bored and want to be a part of DeFi.
Now, according to Forbes (because of course, only the poshest sources will do), the glamorous likes of Crypto.com and Deribit are hopping aboard the BUIDL train. Now you can use this not-at-all-made-up-sounding fund as collateral for your thrilling leveraged trading adventures. In other words, fancy Monopoly money just got an upgrade. 🎢
Michael Sonnenshein, chief operating officer of Securitize (an actual real company!):
“This is a major turning point. We’re not just emerging, darling, we’re solidifying! Tokenized securities! Stablecoins! Please pay attention to how very groundbreaking this all is.”
“Now, these digital ducks and rabbits are becoming programmable productive capital. So, not just something to stuff under your digital mattress. Think: capital that actually does stuff, while you watch Netflix and eat biscuits.”
BUIDL only launched in March 2024 (so basically a toddler in fintech terms) but is already showing off across multiple blockchains – Arbitrum, Optimism, Polygon, and probably your mum’s Kindle if she’d let them. Assets? Oh, just $2.9 billion, no biggie.🙄
Crypto.com, never knowingly under-dramatic, is rolling out BUIDL for institutional clients in “select jurisdictions” (translation: not everyone, sorry Karen). Deribit, meanwhile, the big cheese in crypto options, usually yakking about Bitcoin as collateral, is now inviting BUIDL to the party… on its spot exchange. Who said crypto wasn’t inclusive?
If that’s not enough, seems BUIDL’s about to work its way onto Coinbase too, as the big dogs sniff around acquiring Deribit. So, if you thought your crypto portfolio was wild before, buckle up – the tokens are just getting started. 🚀
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2025-06-18 23:02