Key Takeaways:
- Ethena Labs launches UStb, a new stablecoin backed by BlackRock’s tokenized USD Liquidity Fund.
- UStb will complement Ethena’s existing synthetic stablecoin, USDe, with distinct risk profiles.
- UStb is designed to enhance USDe’s stability, particularly during market fluctuations.
Ethena Labs has announced the launch of a new stablecoin, UStb (USTB), in partnership with BlackRock and Securitize.
UStb will be backed by BlackRock’s tokenized USD Institutional Digital Liquidity Fund (BUIDL), maintaining a stable value of $1 per token.
We are excited to announce Ethena's newest product offering: UStb
— Ethena Labs (@ethena_labs) September 26, 2024
UStb will be fully backed by @Blackrock BUIDL in partnership with @Securitize, enabling a separate fiat stablecoin product alongside USDe
Details below on why this is important: pic.twitter.com/jOIoMef7W3
This new stablecoin will exist alongside Ethena’s synthetic stablecoin, USDe (USDE), which was introduced earlier in 2024.
Both stablecoins will offer distinct risk profiles, allowing users and partners more choice.
Ethena Labs addressed concerns about USDe’s performance, noting it has remained stable despite challenging market conditions over the past six months.
They highlighted UStb’s potential role in supporting USDe, allowing the latter’s backing to dynamically adjust based on market conditions.
This flexibility could help USDe perform better during periods of weak funding or interest rate changes, providing added security for users.
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