ME News reports that on June 29 (UTC+8), BlackRock and Ethena Labs announced an expanded partnership: BlackRock’s enterprise investment and portfolio management platform, Aladdin, will add Ethena’s stablecoin USDe to its list of supported crypto assets and provide a $100 million liquidity facility through Securitize to serve BlackRock’s BUIDL fund. The new arrangement enables qualified BUIDL clients to exchange BUIDL for stablecoins such as USDC and USDtb during off-chain hours and convert back to BUIDL, enhancing interoperability between on-chain U.S. Treasury funds and stablecoins. USDe is a yield-generating synthetic dollar, distinct from USDC and USDT, which are backed by fiat assets. BUIDL currently has a locked value of approximately $3 billion. (Source: PANews)
BlackRock's Aladdin Platform Expands Support for Ethena's USDe Stablecoin
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Summary
On-chain news broke on June 29 (UTC+8) as BlackRock and Ethena Labs announced a partnership to expand support for USDe on the Aladdin platform. The agreement includes a $100 million liquidity tool via Securitize for the BUIDL fund, enabling swaps with stablecoins such as USDC and USDt. USDe is a yield-generating synthetic dollar, distinct from fiat-backed stablecoins. The BUIDL fund holds approximately $3 billion in TVL.
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