Ethena Labs to Officially Launch USDtb, Stablecoin Backed by BlackRock

The stablecoin was developed to offer users a stable and secure alternative to other established stablecoins like USDT and USDC.

USDtb distinguishes itself with a massive 90% allocation of reserves to BlackRock’s BUIDL fund. Additionally, the stablecoin will operate independently from Ethena’s flagship USDe token and can be used like any other stablecoin.

USDtb will be available on multiple networks including Ethereum mainnet, Base, Solana, and Arbitrum through LayerZero integration.

Ethena Labs Steategiczzz  Move to Stabilize USDe

USDtb serves as an independent stablecoin, separate from Ethena’s flagship USDe token. However, the Ethena Risk Committee has approved USDtb as a strategic backing asset for USDe, particularly during periods of negative funding rates. This would reduce risks associated with USDe’s derivative-based strategy, which can underperform in bearish market conditions.

“In light of the rapidly accelerating demand for different stablecoin options, we saw a clear opportunity to provide a new product that offers users an entirely different risk profile from USDe without them having to leave our trusted ecosystem,” Ethena founder, Guy Young said.

Ethena’s USDe currently boasts of an attractive 27% annualized yield, but its reliance on short positions in assets like Bitcoin, Ethereum, and Solana exposes it to market risks. This move bolsters Ethena’s ecosystem, protecting it from volatility.

Availability Across Multiple Blockchains

According to Ethena Labs, USDtb is rolling out on major blockchain networks, including Ethereum mainnet, Base, Solana, and Arbitrum. This is to ensure its seamless and unrestricted transfers across chains, expanding the stablecoin’s accessibility and utility.

Ethena has also partnered with top custodians such as Copper, Zodia Custody, Komainu, and Coinbase Institutional to secure USDtb reserves. This multi-custodian approach enhances trust and ensures the stablecoin’s safety.

Furthermore, USDtb passed through rigorous audits by firms, including Pashov, Quantstamp, and Cyfrin, confirming the token’s reliability and security.

The USDtb launch and Ethena Labs’ significant growth have come at the same time. The DeFi protocol has attracted nearly $6 billion in user funds since early 2024, proving itself as one of the fastest-growing players in the sector.

Ethena’s governance token, ENA, also experienced positive growth following the announcement. Over the weekend, President-elect Donald Trump’s World Liberty Financial purchased $500,000 worth of ENA, triggering a 25% price rally. Although the price later stabilized, ENA continues to trade strongly at $1.19, up 1.32% today, with a market cap of $3.5 billion according to data from CoinMarketCap.