Ethena Labs mints $225M of BlackRock BUIDL tokens
Ethena Labs added another $ 225 million of BlackRock Buidl tokens on March 25, according to Arkham Intelligence.
After this mint, Ethena (This one) now has a total of $ 1.29 billion in Buidl tokens. This assessment has strengthened Ethena’s market share on the expanding American treasury bill market. The USDTB, the synthetic dollar generating Ethena yields, is at the heart of its strategy.
The USDTB offers investors an exposure to treasury yields while maintaining accessibility on the channel. The token is currently supported by $ 1.4 billion in assets, 90% of which are Buidl tokens, with Tether (USDT) and a USD part (USDC), according to data From the platform website.
With an average yield of 4.34%, tokenized US treasury bills became a market of $ 5.2 billion, according to data from Rwa.xyz. The sector has attracted more institutional players because blockchain technology improves regulation speeds and market efficiency.
Officially known as the BlackRock USD Institutional Digital Liquidity Fund, Buidl is a monetary market fund in tokens which was launched in March 2024 in partnership with Securitize. It provides yields in US dollars thanks to investments in cash, cash bills and buyout agreements.
BUIDL A cultivated Quickly, exceed $ 1.9 billion in assets under management and obtain a market share of 37% of the US Treasury bill market. Its growth exceeded that of rivals like Franklin Templeton on the US government channel of the government ($ 692 million) and the short -term Hashnote ($ 751 million).
March 25, BlackRock and Safety announcement Buidl’s expansion in Solana (GROUND), making it available on seven blockchains, including Ethereum (Ethn), Adjust (Fit) and the referee (ARB). Buidl also becomes a key reserve asset for DEFI applications like Sky (formerly Makerdao).
Meanwhile, Fidelity Investments is about to launch an American monetary market fund and his own stable. These developments indicate the growing interest in the integration of traditional finances into assets based on blockchain.
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