Posted by Eva Szalay. Last updated: May 5, 2026
OKX, BlackRock and Standard Chartered have launched a joint framework to establish a new utility for tokenised real-world assets that will allow clients of the exchange to use the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) as collateral that is custodied by a G-SIB bank.
This is the first time a globally systemically important bank has acted as a custodian to digital assets, which in this case is BlackRock’s tokenised short-term US treasury fund. OKX will accept BUIDL as yield-bearing collateral for trading, with Standard Chartered providing off-exchange custody.
The framework enables OKX clients to hold collateral in regulated, off exchange custody while trading on the same integrated venue. Aside from acting as collateral, BUIDL can be deposited and traded on the OKX exchange and used as yield-bearing collateral for margin trading.
Richard Baker, CEO and founder of Tokenovate, says the partnership is a “further step toward a redesign of post-trade infrastructure, where collateral no longer needs to move to be used”.
The move from Standard Chartered is doubling-down on the bank’s crypto footprint. It already offers institutional crypto services, including spot trading for Bitcoin and Ether, digital asset custody (via Zodia Custody), and prime brokerage. It is the first G-SIB bank to offer deliverable spot crypto trading and is actively involved in tokenization, stablecoin, and collateral management for institutional, corporate, and investor clients.