BlackRock and Ethena Labs Unveil a New Stablecoin Backed by Tokenized Bonds

by Giorgi Kostiuk

a year ago

Interest in cryptocurrencies remains strong among institutional players. BlackRock and Ethena Labs have announced the launch of the USDtb stablecoin, uniquely backed by tokenized bonds called BUILD.

BlackRock's Interest in Cryptocurrencies

As the world's largest asset manager, BlackRock oversees more than $10 trillion in assets. The firm shows its interest in cryptocurrencies through its involvement in issuing one of the largest tokenized bonds, BUILD.

USDtb Stablecoin Launch

Ethena Labs announced the launch of the USDtb stablecoin, backed by BUILD, in collaboration with Securitize. Like stablecoins USDC and USDT, USDtb is pegged to the dollar at a 1:1 ratio, with 90% of its reserves held in BUILD.

The core USDtb smart contracts have undergone three full audits by leading auditors Pashov, Quantstamp, and Cyfrin, with no high or medium findings, and a community-focused audit by Code4rena also showed no high or medium findings.None

Market Reaction to ENA Coin Launch

Following the announcement, the price of ENA Coin experienced an increase of nearly 4%, indicating a positive market response to the new stablecoin launch.

The launch of the USDtb stablecoin backed by BlackRock highlights the ongoing interest of major players in the cryptocurrency market, enhancing its growth and development.