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The Defiant
2024-12-17 19:55:44

Ethena Launches New Stablecoin Backed by BlackRock’s Treasury Fund

Ethena Launches New Stablecoin Backed by BlackRock’s Treasury Fund

Ethena Labs, a decentralized finance (DeFi) protocol built on the Ethereum (ETH) blockchain, has launched USDtb, its new stablecoin backed primarily by BlackRock's BUIDL money market fund. USDtb is designed to maintain a 1:1 peg with the U.S. dollar, with over 90% of its reserves held in BlackRock's BUIDL fund and the remainder in other stablecoins. Since going live on Dec. 16, USDtb has amassed a total value locked (TVL) of over $70 million, according to DeFiLlama data . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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