Ethena Labs Enhances BlackRock BUIDL Liquidity with USDtb Fund

- Investors can now swap BUIDL for USDtb stablecoin. - New integration opens broader DeFi strategy access and maintains yield exposure. On June 18, 2025, PR Newswire reported that Ethena Labs launched its USDtb Liquidity Fund, a move significantly enhancing BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) liquidity. Through this initiative, investors can swap BUIDL for the USDtb stablecoin, which unlocks stable liquidity, maintains on-chain yield exposure, and provides access to a wider range of DeFi strategies. The same report indicated that Ethena Labs announced major platforms, such as Crypto.com and Deribit, will accept BUIDL as collateral, and also noted that Securitize tokenized BUIDL. Consequently, this overall development opens new avenues for institutional and decentralized finance users to efficiently access on-chain dollars. On December 16, 2024, Bitcoin.com News reported that Ethena Labs launched its USDtb stablecoin. On the same day, Crypto Briefing also provided details on the launch. Both outlets emphasized that BlackRock's BUIDL fund backs the stablecoin and noted Ethena Labs developed it in collaboration with Securitize. Furthermore, these sources reiterated that BUIDL will constitute 90% of USDtb’s reserves. Separately, on November 29, 2024, The Block had earlier reported that Ethena and Securitize were promoting the upcoming stablecoin, a report which also underscored BlackRock's substantial backing. As of June 18, 19:08 UTC, Ethena USDe (USDe) is trading at $1, with a 0.012% change in 24-hour trading volume.