ChainCatcher news, according to Bloomberg, informed sources revealed that asset management company BlackRock and its brokerage partner Securitize are in preliminary negotiations with several large cryptocurrency exchanges to discuss using 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 for qualified institutional investors.Two brokers, FalconX and Hidden Road, have already allowed their clients (including hedge funds) to use BUIDL as collateral. Custodian Komainu stated on Thursday that clients eligible to invest in BUIDL will be able to use the token as collateral to trade through Hidden Road.Like other money market funds and most stablecoins, BUIDL's value is pegged at $1, with its investments including U.S. Treasury bills, cash, and repurchase agreements. However, unlike stablecoins such as Tether's USDT and Circle's USDC, BUIDL pays interest to holders, which may increase its appeal to derivative traders.

ChainCatcher news, according to Coindesk, the global credit network Hidden Road, which provides digital asset trading, announced that it has completed integration with major crypto exchanges including Coinbase International Exchange, OKX, Deribit, Bitfinex, AsiaNext, SIX Digital Exchange, and Bullish. Additionally, Hidden Road has expanded the use of the BUIDL token under BlackRock, accepting it as collateral within the network.Michael Higgins, Head of Global Business Development at Hidden Road, stated that clients can submit BUIDL tokens as collateral to Hidden Road, which will treat them as valid margin and provide trading financing in the form of USDT or USDC at the relevant exchanges. Due to its existing partnership with the Chicago Mercantile Exchange (CME), Hidden Road can also cross-margin and provide margin financing for digital asset tokens like BUIDL on the CME.In addition to the newly added exchanges, liquidity providers B2C2, IMC, and Laser Digital, as well as software providers Talos and TT, have also joined Hidden Road's network.