🔥 Ethena Labs Launches Stablecoin Backed by Blackrock’s BUIDL Fund ! 😲
Ethena Labs has introduced USDtb, a stablecoin that’s got the backing of Blackrock’s USD Institutional Digital Liquidity Fund (BUIDL).
Ethena Unveils USDtb, a New Stablecoin With Blackrock Support
Crafted in collaboration with Securitize, a top dog in real-world asset (RWA) tokenization, USDtb brings cash-backed steadiness and the magic of cross-chain operations to the table. This new kid on the block mirrors the setup of well-known fiat-backed tokens like tether (USDT) and usd coin (USDC), pegging itself 1:1 with cash or cash-like reserves.
Ethena Labs has introduced USDtb, a stablecoin that’s got the backing of Blackrock’s USD Institutional Digital Liquidity Fund (BUIDL).
Ethena Unveils USDtb, a New Stablecoin With Blackrock Support
Crafted in collaboration with Securitize, a top dog in real-world asset (RWA) tokenization.
With a whopping 90% of its reserves poured into Blackrock’s BUIDL fund, USDtb boasts some of the heftiest institutional support in the stablecoin arena. Ethena’s Risk Committee has given USDtb the thumbs up as a sidekick to its current stablecoin, USDE. This move lets Ethena shuffle funds over to USDtb when the market gets choppy, beefing up resilience and dodging those pesky negative funding rates.
The blog post published this morning says it’s all part of Ethena’s master plan to mix up risk levels across its stablecoin lineup. USDtb is built to play nice with various blockchain networks, from Ethereum to Solana, Base, and Arbitrum. Ethena’s teams states that thanks to Layerzero tech, moving your tokens across chains is as smooth as butter. Plus, early birds can dive into liquidity pools on Curve Finance, snagging rewards during Ethena’s third reward scheme.
