- Ethena Labs and Securitize launch atomic swaps with BlackRock-backed USDtb.
- Securitize tokenizes BlackRock’s BUIDL fund.
- Crypto.com and Deribit now accept BUIDL as collateral.
Ethena Labs and Securitize have partnered to facilitate 24/7 atomic swaps using USDtb, a stablecoin backed by BlackRock’s BUIDL fund, connecting traditional finance with decentralized finance markets.
The collaboration underscores the convergence of traditional and decentralized finance, enhancing liquidity and capital efficiency in the crypto market.
Ethena Labs, a developer of decentralized finance protocols, and Securitize, specializing in real-world asset tokenization, have launched 24/7 atomic swaps using USDtb stablecoin. Backed by BlackRock’s BUIDL fund, this initiative integrates traditional and decentralized finance. Crypto.com and Deribit have begun accepting BUIDL as collateral, while USDtb’s reserves are anchored in the BlackRock BUIDL fund, tokenized by Securitize. Initial liquidity has reached $64.5 million, signaling strong market trust.
“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. Tokenized Treasuries are being actively used to improve capital efficiency and risk management across some of the industry’s most sophisticated trading venues, while still offering yield.” – Carlos Domingo, Co-Founder and CEO, Securitize
Ethena’s stablecoin USDtb promotes secure, yield-generating financial products. Its reserve, primarily from the BUIDL fund, highlights transparency. Market projections indicate that TVL might reach $150 million soon. The acceptance of BlackRock’s tokenized U.S. Treasury as collateral signifies a paradigm shift, integrating traditional and decentralized finance liquidity venues. BUIDL serves as both a yield product and a collateral asset.
Securitize’s CEO, Carlos Domingo, affirms the evolving significance of BUIDL, emphasizing its role in improving capital efficiency. Ethena’s CEO, Guy Young, forecasts substantial market adoption. The rise of tokenized financial products mirrors the ongoing trend of asset digitization. As use cases expand, the focus remains on bridging traditional finance with innovative decentralized protocols. Developers and the crypto community value the increased liquidity and product innovation this initiative represents.
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