Ethena Labs Launches USDtb Stablecoin Backed by BlackRock’s BUIDL 🚀
Ethena Labs has introduced a fresh stablecoin named USDtb, backed nearly 90% by BlackRock's BUIDL fund. This product joins hands with Ethena’s earlier stablecoin, USDe, and is managed differently due to BUIDL backing.
Announced initially in September, USDtb has officially launched today, stirring enthusiasm in the crypto sphere. As a result, Ethena's native token, ENA, surged significantly, reflecting the market's interest in this new financial instrument.
This development promises to increase competition in the stablecoin market, long dominated by Tether's USDT and Circle's USDC, potentially reshaping market dynamics through 2025.
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