Ethena

Date: Thu, Sept 26, 2024, 11:14 AM GMTIn the cryptocurrency market today, the price of Ethena (ENA) sparked by over 9% within the past hour, following to an exciting new development. Just 15 minutes ago, Ethena <a href="https://x.com/ethena_labs/status/1839258925981642834" rel="noopener noreferrer nofollow">announced </a>a groundbreaking collaboration with two major players—BlackRock and Securitize—to introduce a new stablecoin called UStb.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0cbe0c37346c4fa284aa35328a79f8f3.png" />Source: X (Ethena)What makes UStb stand out is that it will be backed by BlackRock&#39;s tokenized U.S. Treasury fund, BUIDL, and collateralized by both BlackRock and Securitize. This will allow UStb to function similarly to a traditional stablecoin but with the added trust of being tied to U.S. Treasury assets.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a0ffed6fdb804d1ca81e4bd114e810f0.png" />Source: EthenaUnlike Ethena&#39;s existing stablecoin USDe, UStb will be offered as a separate product, giving users and exchange partners an alternative with a different risk profile. This fresh option is expected to broaden Ethena&#39;s appeal, potentially drawing in more cautious investors looking for a safer bet in the volatile crypto space.This exciting partnership with two financial giants has already fueled market confidence, leading to the sharp surge in ENA&#39;s value today.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Also Read: <a href="https://coinsprobe.com/is-kaspas-current-support-zone-the-calm-before-a-upside-move/" rel="noopener noreferrer nofollow">Is Kaspa’s Current Support Zone the Calm Before a Upside Move?</a>

Ethena Partners With BlackRock and Securitize to Introduce UStb Stablecoin

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