Ethena Labs has unveiled its latest product, $USDtb, a stablecoin backed by BlackRock’s BUIDL. Designed to maintain a 1:1 peg, each $USDtb token is supported by cash or cash-equivalent reserves, ensuring its stability. Users can freely transfer $USDtb tokens without facing any restrictions. A standout feature of $USDtb is its backing by BlackRock’s BUIDL, which acts as the primary reserve asset for the stablecoin. This innovative structure allows $USDtb to scale efficiently, as BUIDL constitutes 90% of the total reserves, offering a robust foundation for growth. The $USDtb stablecoin is powered by LayerZero, enabling effortless cross-chain transfers across multiple supported
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