Ethena Labs Launches USDtb Backed by BlackRock

Ethena Labs announced the launch of USDtb, a new stablecoin on December 16.

Ethena Labs Launches Usdtb Backed By Blackrock

Ethena Labs officially launched USDtb, a new stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), on December 16.

Developed in partnership with Securitize, USDtb operates similarly to existing fiat-backed stablecoins such as USDC and USDT. USDtb reserves are invested in cash or cash equivalents to maintain a 1:1 peg.

USDtb Launch

Ethena Labs Backed By Blackrock's Build Fund
Ethena Labs Backed By Blackrock’s Build Fund

According to the official blog post, USDtb’s primary reserve asset, BUIDL, accounts for 90% of its total collateral, making USDtb the largest BUIDL-backed stablecoin to date. USDtb operates independently of Ethena’s USDe, providing users with an alternative stablecoin with a different risk profile.

Read more: Bitcoin Hits New ATH, Is a Price Correction Coming?

In addition, USDtb is expected to enhance USDe’s resilience to market volatility, by potentially serving as a backup asset during periods of negative funding rates. The product has passed rigorous audits from leading security firms such as Code4rena, Quantstamp, Cyfrin, and Pashov. USDtb is currently being considered for participation in Spark’s $1 billion Tokenization Grand Prix. Ethena has partnered with Copper, Zodia Custody, Komainu, and Coinbase Institutional to act as custodians for the newly launched stablecoin USDtb. Liquidity for the token will be supported by major providers such as Jump, Cumberland, Amber Group, GSR Markets, and SCB Limited.

(1 vote)

2.0/5

(1 vote)

Latest

Trump Memecoin Faces 50% Token Unlock, Investors Fear Major Sell Off

News | Editor Choice | Memecoin

Trump Memecoin Faces 50% Token Unlock, Investors Fear Major Sell-Off

TRUMP memecoin is about to undergo its largest-ever token unlock, with 50% of its supply set to be released — raising fears of a potential sell-off as the market remains in a fragile state.

Coinbase Rejects Claims Attacking Binance

Policy & Regulations | Editor Choice

Coinbase Rejects Claims Attacking Binance

Coinbase's legal director has clarified that they are not involved in the recent attacks on the Binance exchange.

Xrp Surges Past $3 As South Korean Retail Demand Drives Rally

News | Altcoin | Editor Choice

XRP Surges Past $3 as South Korean Retail Demand Drives Rally

XRP has recently surged past the $3 mark, driven by strong buying pressure from South Korean investors, with the Upbit exchange playing a central role in this sharp price increase.

Germany And The Us Missed Billions By Selling Btc Too Early

News

Germany and the U.S. Missed Billions by Selling BTC Too Early

Bitcoin's price has continuously set new all-time highs and is currently trading around $120,000. This significant increase has caused many countries to lose billions of dollars, particularly Germany and the United States.

Mexc Faces Criticism Over Account Freezes And Withdrawal Delays

News | Editor Choice | Policy & Regulations

MEXC Faces Criticism Over Account Freezes and Withdrawal Delays

Global cryptocurrency exchange MEXC is facing mounting backlash as more users report arbitrary account freezes and prolonged withdrawal delays.