Ethena Labs Launches USDtb Stablecoin Backed by BlackRock's BUIDL
KuCoin NewsRelease Time:12/16/2024 15:45:46
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Derived from CryptoBriefing, Ethena Labs has introduced USDtb, a new stablecoin backed by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). The stablecoin, which maintains a peg to the US dollar, holds 90% of its reserves in BUIDL. Developed in collaboration with Securitize, USDtb offers a different risk profile from Ethena's existing USDe token. It is available on multiple networks, including Ethereum, Base, Solana, and Arbitrum, through LayerZero integration. Ethena aims to stabilize USDe during bearish markets with this launch. The governance token ENA saw a 25% rally after a significant purchase by President-elect Donald Trump's World Liberty Financial.
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