Insider News: CFTC committee members vote to approve the proposal of using BlackRock tokens as collateral

According to Golden Finance, with a group of financial companies voting to adopt the guidelines for using BlackRock tokens, efforts to allow the use of money market fund token shares from Wall Street giants such as BlackRock and Franklin Templeton as trading collateral have taken a significant step forward.

As revealed by two sources, a subcommittee of the Global Market Advisory Committee of the U.S. Commodity Futures Trading Commission (CFTC) voted on Tuesday in favor of related proposals presented to all committee members. These proposals involve how registered companies can hold and transfer non-cash collateral using distributed ledger technology. The CFTC spokesperson did not respond to requests for comment. If these proposals are unanimously approved, tokenization usage could increase because many businesses hope to pledge tokenized collateral to improve capital efficiency.