Ethena Labs, an innovative digital asset platform, has recently launched its latest stablecoin product, $USDtb. It is considered a significant milestone in the stablecoin market. $USDtb is backed by BlackRock’s BUILD Fund through a partnership with Securitize. It is designed to function like traditional stablecoins such as USDC and USDT. It relies on cash and cash-equivalent reserve assets.
BlackRock’s BUILD holds the largest share of the $USDtb reserves. So, this stablecoin now represents the highest BUILD allocation among all similar products. It signals strong institutional backing and stability. Ethena Labs, through its official X account, has revealed its strategic launch of the stablecoin.
A Seamless Cross-Chain Functionality with LayerZero
USDtb is a day-one Omnichain Fungible Token (OFT) powered by LayerZero. It ensures seamless cross-chain transfer across supported networks. It will initially launch on Ethereum mainnet, Base, Solana, and Arbitrum and will also be bridgeable on Stargate. This cross-chain compatibility highlights Ethena Labs’ efforts to meet the growing demand in the DeFi space interoperability.
Moreover, Ethena’s Risk Committee has approved USDtb as a backing asset. It is a backing asset for the Committee’s flagship stablecoin $USDe during periods of negative funding rates. This advancement offers additional support to USDe holders.
Ethena Labs’ Innovative Stablecoin for $1 Billion Allocation
Liquidity providers, to encourage adoption, in Curve’s USDtb/USDe pool will receive 30x points. It incentivizes active participation in the ecosystem. Meanwhile, liquidity pools for $USDe, including $crvUSD, $FRAX, and DAI, will no longer receive points as sufficient organic liquidity has been achieved.
Ethena Labs‘ innovative stablecoin is also being considered for a $1 billion allocation. This consideration is a part of Spark’s Tokenization Grand Prix, further underlining its potential impact.
Exchange listings for $USDtb are expected in the coming week. So, Ethena Labs continues to strengthen its position in the decentralized finance (DeFi) and stablecoin sectors. The lab provides investors with reliable and well-backed digital assets.
