Ethena Labs and digital asset platform Securitize announced a partnership to officially launch an all-day atomic exchange service between BlackRock's tokenized U.S. Treasury fund BUIDL and stablecoin USDtb, aiming to further enhance on-chain liquidity and institutional asset flexibility.
Enhancing Institutional Crypto Liquidity: BUIDL Can Be Exchanged for USDtb 24/7
USDtb is an on-chain stablecoin issued by Ethena, primarily backed by BlackRock's "USD Institutional Digital Liquidity Fund (BUIDL)". The fund holds short-term U.S. Treasuries, cash, and repurchase agreements in tokenized form, specifically designed to provide institutional-level stability.
Its reserve assets are custodied by professional institutions like Copper and Coinbase Institution. According to Securitize, after this integration, eligible institutional users can exchange BUIDL for USDtb in real-time at any time without permission, achieving truly "year-round, instant settlement".
Significant Improvement in On-Chain Fund Utilization Efficiency
Previously, BUIDL's liquidity was limited by traditional market opening hours and redemption processes. Now, through the atomic swap mechanism, BUIDL holders can quickly convert their assets to USDtb, rapidly accessing a broader on-chain ecosystem.
Currently, over 1.456 billion USDtb have been issued and integrated into multiple DeFi protocols and CeFi platforms. Through this swap mechanism, BUIDL assets can be used not only for on-chain trading, lending, and staking but also provide stronger liquidity options for institutional participants.
Promoting Large-Scale On-Chain Application of Real-World Assets
This collaboration is an extension of Securitize and Ethena Labs' existing strategic partnership, aimed at continuously promoting the digitization of real-world assets like U.S. Treasuries and expanding their practical utility in institutional finance and DeFi applications.
Securitize stated: "We will continue to be committed to building secure, programmable on-chain infrastructure, expanding the boundaries of tokenized Treasury bonds, and helping global institutional clients participate more efficiently in digital financial markets."
