Hidden Road now accepts BlackRock’s BUIDL token as collateral, allowing clients to earn interest on their assets while funding transactions.
The Integration with Leading Cryptocurrency Exchanges
Hidden Road has integrated Coinbase International Exchange, OKX (including Nitro Spreads), Deribit (including options), Bitfinex, Bullish, AsiaNext, and SIX Digital Exchange. This integration follows the initial partnership with Coinbase Exchange in 2022.
This expansion strengthens Hidden Road’s service offering by adding top-tier trading platforms, increasing opportunities for its institutional clients.
Expanded Use of BlackRock’s BUIDL Token
In addition to adding new platforms, Hidden Road has expanded the use of BlackRock’s BUIDL token. This token is now accepted as collateral, allowing clients to use it to secure their transactions.
Michael Higgins, Global Head of Business Development at Hidden Road, stated that clients can deposit the BUIDL token as collateral on Hidden Road. This innovation enables clients to finance their exchanges with stablecoins like USDT or USDC while earning interest on their deposited assets.
Benefits for Institutions and Partnership with CME
With high-interest rates, institutions trading digital assets in amounts of several hundred million dollars do not want to miss out on a nearly risk-free return of approximately 5% from BlackRock’s tokenized money market fund.
Higgins explained that, thanks to its existing partnership with the Chicago Mercantile Exchange (CME), Hidden Road can also use the BUIDL token for cross margin and margin financing on the CME. Previously, clients could only use Bitcoin as collateral, which did not generate interest. Now, they can use the BUIDL token and obtain dollar financing while earning interest on their collateral.
New Liquidity Providers and Software Partners
In addition to the new exchanges, Hidden Road has also welcomed new liquidity providers such as B2C2, IMC, and Laser Digital, as well as software providers like Talos and TT. Hidden Road aims to offer more comprehensive and efficient trading solutions to its institutional clients while taking advantage of the benefits offered by innovation in collateral financing and management.
