Ethena (ENA) has BlackRock behind it: RWA step!

Ethena (ENA), a DeFi project on the Ethereum blockchain, announced its stablecoin supported by BlackRock's RWA fund.

Ethena, which made a sensational entrance into 2024 and quickly made a name for itself, has taken an important step in the real world assets (RWA) field. Ethena will launch its stablecoin UStb, supported by Securitize and BlackRock.

According to the statements, UStb's reserves will be transferred to BlackRock's RWA fund BUIDL. The fund in question will invest the assets in US dollars, repo and bonds.

Ethena Labs ($ENA ) has launched a stablecoin that invests its reserves in BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). The stablecoin called UStb will act as a bridge between real-world assets (RWA) and decentralized finance (DeFi).

Ethena launched a synthetic stablecoin, USDe, at the beginning of the year. USDe is supported by investments created on Ethereum.

According to the announcement, UStb will have a different risk profile compared to USDe. The team announced that the stablecoin supported by RWA will be an independent product.

The team stated that UStb will also help USDe manage risk in difficult market conditions. UStb will initially be listed on centralized exchanges such as Bitget and Bybit. The team, which announced that further developments will be announced soon, reassured its investors.

ENA price increased by 11 percent after the announcement. According to the latest data, ENA's market value reached $ 660 million.

The BUIDL fund, created in 2024, reached over $ 500 million in assets in a short time. The steps taken by BlackRock, a spot Bitcoin ETF issuer, in the field of RWA have attracted great attention.

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