BlackRock Integrates Ethena's USDe, Sending ENA Up 8%
BlackRock, the world's largest asset manager, will integrate Ethena's yield-generating synthetic dollar token USDe into its Aladdin risk management platform. The deal also creates a $100 million liquidity facility for BlackRock's tokenized money market fund BUIDL, allowing holders to exchange BUIDL for USDC, USDtb, and other stablecoins outside market hours. Following the announcement, ENA rose 8%. This partnership follows Ethena's recent collaborations with Coinbase, Janus Henderson, and Securitize. BlackRock's head of digital assets, Robert Mitchnick, emphasized the link between stablecoins and tokenized real-world assets, stating the facility enables frictionless interoperability. Ethena founder Guy Young noted that the next phase of adoption will involve infrastructure allowing traditional institutions to interact with onchain products through familiar systems. The deal highlights the growing trend of asset managers entering decentralized finance.
Key facts
- BlackRock integrates Ethena's USDe token into its Aladdin platform.
- A $100 million liquidity facility created for BlackRock's BUIDL fund.
- ENA token price increased 8% following the announcement.
- Parties highlight interoperability between stablecoins and tokenized assets.