Svmuu News: BlackRock and Ethena Labs have announced a partnership to provide institutional investors with deeper access to Ethena-related products on the Aladdin platform, while enhancing the liquidity and interoperability of its tokenized U.S. dollar instruments, including BUIDL.
Under the agreement, Ethena will support a $100 million liquidity facility through Securitize for BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).This mechanism allows eligible clients to exchange between BUIDL and USDC, USDtb, and other supported stablecoins, enabling two-way conversions even outside of trading hours.
BlackRockRobert Mitchnick, Head of Digital Assets, stated that this liquidity arrangement will enhance the frictionless interoperability of tokenized Treasury funds and further unlock the structural advantages of on-chain Treasury products.Launched in 2024 as the “Ethereum” tokenized U.S. Treasury fund, BUIDL currently has approximately $3 billion in assets under management and is one of the world’s largest tokenized Treasury products. This partnership further strengthens BlackRock’s presence in the real-world assets (RWA) and digital dollar infrastructure sectors. (The Block)