Ethena Introduces USDtb Stablecoin Backed by BlackRock BUIDL

• Ethena Labs launches USDtb, backed by BlackRock’s BUIDL fund, ensuring scalability and strong liquidity.
• USDtb operates across multiple blockchains like Ethereum, Solana, and Arbitrum with LayerZero-powered cross-chain transfers.

Ethena Labs has officially launched USDtb, a stablecoin supported by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and created in collaboration with Securitize. With much of its reserves—about 90%—kept safely in BlackRock’s BUIDL fund, USDtb stands out for keeping a 1:1 peg to the US dollar.

This support guarantees the stablecoin gains from a strong level of security, improved scalability, and consistent liquidity, therefore placing it as a competitive participant in the stablecoin market.

Today we are launching our new stablecoin product, USDtb, backed by @BlackRock's BUIDL Fund in partnership with @Securitize

Read below for full details👇 pic.twitter.com/mSf3mWv3oF

— Ethena Labs (@ethena_labs) December 16, 2024

USDtb Delivers Stability, Cross-Chain Interoperability, and Enhanced Security

USDtb offers users with a different risk profile than Ethena’s already introduced USDe token. USDtb offers a more traditional and consistent backing, serving users looking for low volatility and safe dollar exposure, whereas USDe concentrates on synthetic dollar generation using decentralized finance systems.

Thanks to Layer Zero technology, the new stablecoin notably runs across several blockchain systems like Ethereum, Solana, Base, and Arbitrum. Perfect cross-chain transfers made possible by this interoperability are essential to improving user accessibility and acceptance.

Ethena Labs still gives security first priority since major security companies such as Quantstamp, Cyfrin, and Pashov have rigorously examined the USDtb smart contracts. These audits confirmed USDtb’s resilience in terms of technical execution and compliance by pointing out no noteworthy weaknesses.

For its USDe token, Ethena also intends to use USDtb as a stabilizing asset, particularly in times of negative funding rates.

Ethena Labs is also aggressively striving to increase USDtb’s applicability. Considered margin collateral on regulated exchanges, the stablecoin is under review in Spark’s $1 billion Tokenization Grand Prix.

Previously, CNF reported Ethena Labs included sUSDe into Aave, creating chances for stablecoin borrowing worth billions and with APY of up to 30%. Targeting to improve scalability and collateral diversification, the business also suggested Solana and staking derivatives as assets to underpin USDe.

Meanwhile, Ethena’s native token, ENA, is trading at about $1.15 at the time of writing, reflecting a 14.70% increase over the last 7 days and a 91.88% leap over the last 30 days.