๐ Ethena Labs has launched its new stablecoin, USDtb, backed by BlackRock's BUIDL Fund, amassing $65.4M in value on day one! Like USDT and USDC, USDtb is backed 1:1 by cash, aiming to help Ethena's USDe holders navigate choppy market waters.
- Josรฉ Maria Macedo predicts USDtb will become the largest tokenized treasury product within a month.
- Ethena's Seraphim Czecker sees potential scaling to $100B, creating an APY 'floor' around T-Bill rates.
- USDtb is 90% backed by BlackRockโs USD Fund, with the rest in USDC for extra liquidity.
With the stablecoin market cap soaring past $200B, the future looks bright! ๐
