CoinVoice has recently learned that stablecoin issuer Ethena and tokenization platform Securitize are about to launch a stablecoin USDtb to participate in Spark’s $1 billion tokenization competition.
The Spark competition (called the Tokenized Grand Prix) will award up to $1 billion in liquidity to selected partners. Spark is the lending platform in the Sky ecosystem, a rebranded version of MakerDAO. The results will be confirmed by Sky token holders through a governance vote.
The USDtb stablecoin’s reserves will be invested in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which is tokenized by Securitize. BUIDL will account for more than 90% of its initial backing. Ethena claims that this proportion is higher than other stablecoin issuers. [Original link]