The DeFi project #Ethena ($ENA ), located on the Ethereum blockchain, announced its stablecoin, which was deleted by BlackRock's RWA fund.
Ethena, which made a sensational entrance into 2024 and made headlines in a short time, took an important step in the field of real world assets (RWA). Ethena launched its stablecoin UStb, determined 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, repos and bonds.

Ethena (#ENA ) preferred BlackRock's RWA fund Ethena Labs (ENA) issued a stablecoin by depositing its reserves in BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). The stablecoin named UStb will serve 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 on Ethereum.
According to the announcement, UStb will have a different risk profile compared to USDe. The team announced that the stablecoin was developed as an independent product by RWA.
The team stated that UStb could 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 investors.
ENA ranked 11th after the price announcement. According to the latest information, ENA's market value reached 660 million.
The BUIDL fund, which was used in 2024, is reaching over $500 million in assets in a short time. BlackRock, the issuer of the Spot Bitcoin ETF, has attracted great interest in RWA step by step.

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