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Securitize and Ethena Labs achieve 24/7 transfer of BUIDL and USDtb
According to Gate News bot and The Block, the developers of synthetic USDtb, Ethena Labs, and the real-world asset tokenization (RWA) company Securitize have achieved around-the-clock atomic transfers between BlackRock’s tokenized fund BUIDL and the Ethena stablecoin supported by the fund.
Securitize announced on social media platform X: “Through the USDtb liquidity fund, qualified participants who join through Securitize can now exchange BUIDL for Ethena Labs’ USDtb anytime, without permission. This integration enhances the way institutions and DeFi users access on-chain US dollars.”
BUIDL is the abbreviation for BlackRock’s US Dollar Institutional Digital Liquidity Fund, launched in March 2024, and is the largest tokenization treasury fund on public chains. It is also the first institutional-grade on-chain fund this March to surpass an asset management scale of 1 billion USD.
According to DeFi Llama data, BUIDL shows that the total locked value of the fund is 2.88 billion USD.
Following the joint launch of the institutional-grade EVM chain Converge for tokenization of assets by the two companies in March, this move further solidifies the long-term collaboration between Securitize and Ethena Labs.