Reserves for UStb will be invested in BUIDL, which in turn holds U.S. dollars, U.S. Treasury bills, and repurchase agreements.

Ethena Labs launches UStb, a stablecoin backed by BlackRock's BUIDL fund, aiming to provide a reliable alternative in the stablecoin market.

Ethena Labs, the developer of the decentralized stablecoin protocol Ethena, is working on a new stablecoin backed by a tokenized fund by a major Bitcoin (BTC) investor, BlackRock. Ethena Labs took to X on Sept.

Ethena Labs announced on X on September 26 its newest product offering, UStb. The company revealed that UStb would be backed up by BlackRock BUIDL. Ethena Labs also revealed that BlackRock would partner with Securitize to enable a separate fiat stablecoin.

Ethena has announced plans to introduce a new stablecoin, UStb, which will be backed by BlackRock's tokenized U.S. Treasuries fund, known as BUIDL.

Ethena Labs will launch a new UStb stablecoin in partnership with Securitize, the real-world asset tokenization platform.

Ethena has announced UStb, a new stablecoin backed by BlackRock's BUIDL fund, with news helping ENA price higher