{"id":3350,"date":"2025-06-19T08:03:04","date_gmt":"2025-06-19T08:03:04","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethena-labs-and-securitize-enable-24-7-swaps-between-usdtb-and-blackrocks-buidl\/"},"modified":"2025-06-19T08:03:07","modified_gmt":"2025-06-19T08:03:07","slug":"ethena-labs-and-securitize-enable-24-7-swaps-between-usdtb-and-blackrocks-buidl","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethena-labs-and-securitize-enable-24-7-swaps-between-usdtb-and-blackrocks-buidl\/","title":{"rendered":"Ethena Labs and Securitize enable 24\/7 swaps between USDtb and BlackRock\u2019s BUIDL"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">For the first time, institutional and decentralized finance users can now swap between BlackRock\u2019s tokenized U.S. Treasury fund, BUIDL, and Ethena\u2019s USDtb stablecoin around the clock.<\/p>\n<p>The new capability, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/securitize\/status\/1935367027981443166?s=46&amp;t=nznXkss3debX8JIhNzHmzw\" target=\"_blank\">announced<\/a> by Securitize on June 18, marks a step forward in connecting traditional finance with DeFi. It sets a new standard for how tokenized assets are accessed and composed on-chain.\u00a0Thanks to a new liquidity fund smart contract, qualified users onboarded through Securitize can now perform atomic swaps between BUIDL and USDtb around the clock.<\/p>\n<p>As a result, holders of BUIDL, or BlackRock USD Institutional Digital Liquidity Fund, now have unlimited access to a variety of DeFi strategies that already incorporate USDtb. USDtb, which has a circulating supply of over $113 million, is primarily backed by BUIDL and offers a stable, composable, and yield-exposed dollar on-chain.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BUIDL now has 24\/7 on-chain liquidity via <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/ethena_labs?ref_src=twsrc%5Etfw\" target=\"_blank\">@ethena_labs<\/a><\/p>\n<p>We\u2019ve partnered with Ethena to enable atomic swaps from BlackRock\u2019s BUIDL to USDtb\u2014unlocking new composability, liquidity, and accessibility for the world\u2019s largest tokenized Treasury fund.<\/p>\n<p>Here\u2019s what it means \ud83e\uddf5\ud83d\udc47 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/vymjYACt0T\" target=\"_blank\">pic.twitter.com\/vymjYACt0T<\/a><\/p>\n<p>\u2014 Securitize (@Securitize) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/Securitize\/status\/1935367027981443166?ref_src=twsrc%5Etfw\" target=\"_blank\">June 18, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The integration was built by Securitize and Ethena (ENA) Labs, extending a partnership that began with the launch of the Converge blockchain in March this year. It enables asset holders to switch between programmable dollars and tokenized treasuries without the need for off-chain middlemen. This opens up new trading options and liquidity for both CeFi and DeFi participants.\u00a0<\/p>\n<p>BUIDL\u2019s expanding role in crypto infrastructure is further demonstrated by its recent listing as collateral on Deribit and Crypto.com. The fund now dominates roughly 40% of the $7.3 billion tokenized U.S. Treasuries market, with strong inflows from institutions seeking regulated yield exposure. <\/p>\n<p>At first, Ethena Labs held up to 90% of USDtb\u2019s reserves in BUIDL but has since stopped making additional allocations. However, USDtb is still closely related to the liquidity and performance of the fund.\u00a0<\/p>\n<p>Systemic risks are introduced by the deep reserve concentration in BUIDL. If BUIDL were to face redemption bottlenecks or regulatory scrutiny, USDtb\u2019s backing could be tested. However, with verified reserves and audited smart contracts, the system aims to balance transparency with capital efficiency.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the first time, institutional and decentralized finance users can now swap between BlackRock\u2019s tokenized U.S. Treasury fund, BUIDL, and Ethena\u2019s USDtb stablecoin around the clock. The new capability, announced&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=3350"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3350\/revisions"}],"predecessor-version":[{"id":3352,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3350\/revisions\/3352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3351"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=3350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=3350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=3350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}