Ethena officially launches USDtb, stablecoin backed by BlackRock

Ethena Labs has introduced a new stablecoin, USDtb, backed by BlackRock’s USD Institutional Digital Liquidity Fund.

USDtb operates similarly to other popular fiat-backed stablecoins like USD Coin usdc0.06%USDC and Tether usdt0.14%Tether, with reserves held in cash or cash-equivalent assets at a 1:1 ratio.

Unlike most stablecoins, USDtb distinguishes itself by allocating 90% of its reserves to BlackRock’s BUIDL fund. This tokenized money market fund primarily invests in short-term U.S. Treasury bills, cash, and repurchase agreements.

This is the highest BUIDL allocation of any stablecoin, allowing USDtb to scale more effectively and providing a high degree of stability, according to Ethena ena-5.39%Ethena.

The stablecoin is being launched in partnership with Securitize, a leader in tokenization of real-world assets. USDtb is positioned as a more traditional stablecoin option, with a completely separate risk profile compared to Ethena’s flagship token, USDe usde0.12%Ethena USDe, which uses a derivative-based strategy to maintain its peg to the U.S. dollar.

Get to know Trustleak

Trustleak crypto signal is a service which provide profitable crypto and forex signals. Trustleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Trustleak crypto leak service have multiple advantages in comparision with other services:

Providing signal of +100 best crypto vip channels in the world
Using high tech bot to forward signals
Without even a second of delay
Joining in +160 separated channels on telegram
1 month, 3 months , 6 months and yearly plans
Also we have trial to test our services before you pay for anything

For joining Trustleak and get more information about us only need to follow trustleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Trustleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

Ethena’s financial ecosystem

The introduction of USDtb is part of Ethena’s broader strategy to bolster the resilience of its ecosystem, particularly during volatile market conditions. While USDe generates yield by shorting assets like Bitcoin btc1.79%Bitcoin, Ether eth1.25%Ethereum, and Solana sol-3.21%Solana, it is susceptible to underperformance during market downturns and negative funding rates.

To mitigate these risks, Ethena’s Risk Committee has approved USDtb as a backup asset for USDe, allowing the platform to reallocate reserves when necessary. USDtb is also expected to serve as an alternative collateral option for margin trading on centralized exchanges, further broadening its utility.

Ethena has partnered with custodians such as Copper, Zodia Custody, Komainu, and Coinbase Institutional to secure USDtb’s reserves, according to the company.

Ethena also submitted an application for USDtb to be included in Sky’s $1 billion Tokenization Grand Prix, which aims to fund tokenized real-world asset projects.

The launch of USDtb follows a series of successful audits conducted by leading firms, including Pashov, Quantstamp, and Cyfrin, ensuring the token’s security and reliability.

Post Views: 134

Tags: BlackRock, Ethena, Stablecoin, USDtb