BLACKROCK DEPLOYS $2.5B FUND ON CRYPTO EXCHANGE OKX

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.