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.
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.
