Ethena and Securitize have partnered to launch a new stablecoin, UStb, powered by BlackRock's BUIDL.
UStb is designed to function in the same way as traditional stablecoins. UStb will be a standalone product that offers different risk characteristics than USDe. In adverse market conditions, UStb can help USDe cope with risks. Ethena plans to use UStb as margin collateral on partnered centralized exchanges such as Bybit and Bitget. The specific release time and exchange integration details will be announced in the coming weeks. It is reported that BUIDL is BlackRock's first tokenized asset fund, tokenized by Securitize.