Centralized exchanges accelerate adoption of tokenized Treasurys as RWA collateral grows across global trading platforms
Binance has added BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) as off-exchange collateral, giving institutional traders the ability to maintain custody of their assets while accessing liquidity on the world’s largest crypto exchange.
Binance Deepens RWA Integration for Institutional Clients
The move connects BlackRock’s onchain money-market fund with Binance’s custody infrastructure, allowing institutions to earn yield on BUIDL while using it to support trading positions.
A new BUIDL asset class is also set to launch on BNB Chain, extending the token beyond Ethereum and expanding its onchain utility.
Binance now supports several yield-bearing tokenized assets, including Circle’s USYC and OpenEden’s cUSDO, signaling a broader pivot toward tokenized treasuries as secure, regulated collateral options.
An industry analyst said the integration marks a “significant step in aligning digital asset markets with traditional collateral frameworks.” Another market specialist noted that institutions increasingly prefer off-exchange collateral models that reduce counterparty risk while preserving liquidity.
Tokenized US Treasurys have become the second-largest real-world assets (RWA) segment after stablecoins, with a market capitalization of $8.57 billion, according to RWA.xyz.
BlackRock’s BUIDL Leads the Tokenized Treasury Sector
BUIDL — BlackRock’s first onchain liquidity fund — is a tokenized, interest-bearing USD instrument issued through Securitize. BlackRock managed approximately $13.4 trillion in assets as of Q3 2025, reinforcing the scale behind the initiative.
Binance’s adoption expands a trend that has accelerated across exchanges. Deribit and Crypto.com began accepting BUIDL in July, while Bybit added support for QCDT — a DFSA-approved tokenized Treasury fund — in September.
Tokenized Treasurys Become Core Trading Collateral
The growth mirrors traditional markets, where companies pledge Treasurys through bank-run triparty systems rather than keeping capital directly on trading venues. Now, tokenized equivalents are achieving similar status in crypto.
The sector is led by BlackRock’s BUIDL at $2.52 billion, followed by Circle’s USYC at $1.06 billion and Franklin Templeton’s BENJI with $850 million.
The expansion suggests that Treasurys are evolving from yield products into core market infrastructure for institutional crypto trading, reinforcing their role as the foundation of the emerging RWA ecosystem.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.