According to Foresight News, Ethena Labs has announced the launch of its new stablecoin product, USDtb, which is supported by BlackRock BUIDL. The USDtb stablecoin shares similar characteristics with existing fiat-backed stablecoins such as USDC and USDT. It is backed by reserves of cash or cash equivalents at a 1:1 ratio for each token issued. This ensures that the value of USDtb remains stable and pegged to the US dollar.
Users of USDtb can transfer the stablecoin freely and without any restrictions, providing a flexible and reliable option for transactions. The introduction of USDtb aims to offer a secure and efficient means of digital currency exchange, leveraging the backing of BlackRock BUIDL to enhance trust and stability in the product. Ethena Labs' move to introduce USDtb reflects the growing demand for stablecoins in the digital currency market, as they provide a bridge between traditional fiat currencies and the digital asset ecosystem.
