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Ethena Introduces USDtb Stablecoin Backed by BlackRock BUIDL
In a significant development in the digital asset space, Ethena Labs has officially launched USDtb, a new stablecoin that is uniquely backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). This innovative move aims to provide enhanced security and scalability to users.
USDtb operates across multiple blockchains, including Ethereum, Solana, and Arbitrum, with LayerZero-powered cross-chain transfers. This interoperability is expected to significantly improve user accessibility and acceptance.
In a bold move, Ethena Labs has decided to keep approximately 90% of the reserves in BlackRock’s BUIDL fund, ensuring that USDtb maintains a steadfast 1:1 peg to the US dollar.
Source: http://www.crypto-news-flash.com
