Stablecoin

2024

Ethena

Coin

<ul class="wp-block-list news-points">
 <li>Ethena’s UStb will be backed by BlackRock’s BUIDL, offering a safer reserve base.</li>
 <li>UStb aims to stabilize USDe by reallocating assets during market instability.</li>
 <li>Ethena secures $14M in funding to expand with UStb and strengthen market position.</li>
</ul>
Ethena is preparing to launch a new stablecoin called UStb with Securitize, a real-world asset tokenization platform. Unlike its synthetic dollar stablecoin, USDe, UStb will be backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).
The BUIDL fund, tokenized on Ethereum, mainly invests in U.S. dollars, short-term Treasury bills, and repurchase agreements. This backing gives UStb a strong reserve base, setting it apart from other stablecoins.
The stablecoin market has grown rapidly, with BUIDL managing over <a href="https://dune.com/21co/tokenization-government-securities" target="_blank" rel="noopener noreferrer nofollow">$522 million</a> since its March 2024 launch. UStb’s introduction could be a major step forward in the tokenized government securities space, which holds over <a href="https://dune.com/21co/tokenization-government-securities" target="_blank" rel="noopener noreferrer nofollow">$2 billion</a> in assets.
<h2 class="wp-block-heading" id="h-a-new-approach-to-stability">A New Approach to Stability</h2>
Unlike <a href="https://coinedition.com/ethena-whale-takes-2-71m-hit-as-ena-token-drops-38-in-a-month/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">Ethena’s</a> USDe, which relies on a complex derivative hedging strategy, UStb will have a more traditional backing. USDe, launched in February, became the fifth-largest stablecoin by…
The post <a href="https://coinedition.com/ethena-to-launch-stablecoin-backed-by-blackrocks-tokenized-buidl-fund/" rel="noopener noreferrer nofollow">Ethena to Launch Stablecoin Backed by BlackRock’s Tokenized BUIDL Fund</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Ethena to Launch Stablecoin Backed by BlackRock’s Tokenized BUIDL Fund

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