Ethena's new stablecoin UStb is claimed to be a completely independent product from USDe, and is expected to invest its reserves in BlackRock's BUIDL fund.

According to the announcement, UStb is designed to function similarly to traditional stablecoins and is expected to invest its reserves in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on the Ethereum network. In particular, UStb was born as a completely independent product, providing a "more perfect" alternative because of different risk data compared to Ethena's current stablecoin USDe, which can help USDe overcome unfavorable market conditions. BlackRock’s BUIDL, in particular, invests in U.S. dollars, short-term U.S. Treasury bonds, and repurchase agreements. Since its launch in March of this year, BUIDL has rapidly grown to become the largest tokenized U.S. Treasury bond fund, with over $522 million in assets under management.

How will the future of UStb help Ethena develop? Is it a sign of growth in the development phase of $ENA ?

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