BlackRock is expanding into cryptocurrency infrastructure by bringing its money market fund to exchange OKX, with Standard Chartered serving as custodian. The move signals deepening ties between Wall Street and digital-asset platforms.
BlackRock's $2.5 billion money market fund will now be accessible through OKX, one of the world's largest crypto exchanges. Standard Chartered will hold the underlying assets, providing institutional-grade custody safeguards.
The deployment targets idle cash accumulating on crypto exchanges—a significant pool of capital that has traditionally remained outside traditional financial infrastructure. By offering a regulated money market product directly on OKX, BlackRock enables exchange users to earn competitive yields on dormant balances.
The arrangement reflects accelerating convergence between Wall Street institutions and crypto markets. BlackRock has steadily expanded its digital-asset offerings following approval of its spot Bitcoin ETF in January 2024. Other major financial firms have similarly increased cryptocurrency infrastructure investments.
OKX, headquartered in the Cayman Islands, operates one of the largest crypto trading platforms globally. The partnership provides OKX users access to institutional-quality financial products while giving BlackRock exposure to an active crypto user base managing billions in assets.
The SEC has postponed a plan that would have granted broad exemptions allowing US crypto firms to trade tokenized versions of stocks. The delay affects a significant expansion of crypto assets linked to traditional equities.
Kelp DAO has completed recovery of its restaked Ether token following a five-week effort to address a $293 million exploit attributed to North Korea's Lazarus Group in April.
Morgan Stanley launched a cryptocurrency trading pilot on E*Trade with lower fees than Coinbase, Robinhood, and Charles Schwab. The firm plans a broader rollout in 2026.
Crypto exchange Bullish agreed to acquire UK-based financial services outsourcing firm Equiniti from Siris Capital for $4.2 billion. The deal is expected to close in January 2027.