BlackRock collaborates with Ethena Labs to launch a $100 million liquidity mechanism

BlackRock has partnered with Ethena Labs to support a $100 million liquidity mechanism through Securitize, enhancing the interoperability and liquidity of BUIDL tokenized funds. This mechanism allows eligible customers to exchange between BUIDL and USDC, USDtb, and other supported stablecoins, and can achieve bidirectional conversion during non trading hours. Robert Mitchnick, head of BlackRock Digital Assets, said that the liquidity arrangement improved the frictionless interoperability of token treasury bond bond funds and released the structural advantages of treasury bond bond products on the chain. BUIDL currently manages a scale of approximately 3 billion US dollars. Source: The Block