ENA off-chain Ustb stablecoin is supported by BlackRock and Securitize, and ENA price soars 16%
ENA price will return to $1!
Ethena Labs said on Thursday that it will launch the UStb stablecoin, which is guaranteed by BlackRock and Securitize, and launch a separate legal stablecoin product together with USDe. UStb will be fully supported by BlackRock BUIDL in cooperation with Securitize.
Ethena Labs announced the launch of UStb stablecoin
Ethena Labs announced its latest product, UStb, in an X post on September 26. The company added that it will exist as an independent product, separate from USDe, to provide users and exchange partners with new products with differentiated risk profiles from USDe.
However, in periods of weaker financing conditions, USDe can benefit from the inclusion of UStb. In different interest rate environments, the USDe support portfolio can dynamically adjust between the underlying position and the liquid stable product.
The cryptocurrency community has repeatedly expressed concerns about how the USDe protocol will cope with a negative funding rate environment. Notably, despite the poor market environment over the past 6 months, Ethena's sUSDe has never experienced a week of negative funding.
