Ethena has officially launched its new stablecoin USDtb, developed in partnership with real-world asset tokenization company Securitize.
USDtb Stablecoin Launch
USDtb stablecoin is backed by cash or cash-equivalent reserves at a 1:1 ratio, similar to USDC and USDT stablecoins. However, most of its funds (90%) are invested in BlackRock's US Dollar Institutional Digital Liquidity Fund (BUIDL), setting it apart. This allows USDtb to expand without practical limitations, maintaining stability and offering users a stablecoin with strong institutional backing.
Risk Management Benefits
USDtb offers an independent alternative to Ethena's existing product, USDe, providing users and exchange partners with a stablecoin with different risk characteristics. Ethena's Risk Committee recently approved a proposal to use USDtb as a backing asset for USDe during negative funding rates, allowing Ethena to close hedge positions for USDe and reallocate assets to USDtb, thus mitigating potential risks during market downturns.
Collaboration with BlackRock
The investment in BlackRock's BUIDL fund is a key aspect for the expansion and stability of USDtb. This partnership allows USDtb to scale rapidly, and it strengthens its market position with the highest investment share among all stablecoins.
The launch of Ethena's USDtb stablecoin with BlackRock backing provides a new option for risk management, maintaining stability with strong institutional assets.
