Ethena Labs and Securitize have partnered to launch 24/7 atomic swaps using the USDtb stablecoin, backed by BlackRock’s BUIDL fund. This initiative highlights the convergence of traditional and decentralized finance.
New Atomic Swap Initiative
Ethena Labs, a developer of decentralized finance protocols, and Securitize, specializing in real-world asset tokenization, have announced the launch of atomic swaps using the USDtb stablecoin. This currency is backed by BlackRock’s BUIDL fund, which facilitates the integration of traditional and decentralized financial systems.
BUIDL's Role in Blockchain Infrastructure
BUIDL is now accepted as collateral on platforms such as Crypto.com and Deribit, transitioning its status from a yield-bearing token to a core component of cryptocurrency market infrastructure. Quoting Carlos Domingo from Securitize: "With BUIDL now accepted as collateral on Crypto.com and Deribit, the fund is evolving from a yield-bearing token into a core component of crypto market infrastructure."
Market Prospects and Impact
Ethena’s stablecoin USDtb emphasizes the importance of transparency, with initial liquidity reaching $64.5 million. It is anticipated that the total value locked (TVL) may reach $150 million soon, indicating growing trust in tokenized financial products and their role in bridging traditional and decentralized finance.
The collaboration between Ethena Labs and Securitize illustrates the significance of tokenized assets in modern financial models. Applications that expand the use of traditional finance continue to enhance the importance of liquidity and innovation in the crypto world.
