Ethena Labs is making waves in the stablecoin market with a new stablecoin they are creating with BlackRock. Yes, that BlackRock.
Collaborating with BlackRock and Securitize, they are set to release UStb, a stablecoin supported by BlackRock’s tokenized fund.
This alliance is groundbreaking, with UStb pegged to BlackRock’s USD Institutional Digital Liquidity Fund, maintaining a stable $1 token value.
Here’s what you should know for the partnership and what other BlackRock cryptocurrencies will blow up.
BlackRock: Bridging Traditional Finance and Crypto
BlackRock’s UStb stablecoin is emerging as a strategic cornerstone for Ethena’s synthetic stablecoin, USDe. While USDe keeps its $1 peg through cash-and-carry trades, UStb acts as a buffer, allowing Ethena to secure USDe during market swings by reallocating assets to UStb.
The Ethena Labs team explained, “UStb will be a ‘wholly independent product’ with a different risk profile than USDe.”
We are excited to announce Ethena's newest product offering: UStb
UStb will be fully backed by @Blackrock BUIDL in partnership with @Securitize, enabling a separate fiat stablecoin product alongside USDe
Details below on why this is important: pic.twitter.com/jOIoMef7W3
— Ethena Labs (@ethena_labs) September 26, 2024
Ethena Labs is set to roll out UStb on major exchanges like Bybit and Bitget, as well as future platforms using USDe as margin collateral. This move enhances UStb’s reach and solidifies Ethena’s foothold in the stablecoin landscape.
In the coming weeks, Ethena is poised to unveil more on UStb, stirring excitement in the market. With backing from BlackRock’s tokenized fund, keep your eyes out.
Best RWA Crypto to Buy Now: Landshare (LAND)
Another RWA cryptocurrency that BlackRock might add to their BUIDL fund is Landshare, a trailblazer in tokenized real estate.
Landshare allows you to invest in real estate without buying an entire property; you can buy fractions of a tokenized property.
I've been keeping an eye on $LAND (Landshare) for a while now, waiting for a breakout. It’s a fantastic #RWA pick for this bull run!
📌 Market cap: only $6.4 million
📌 Total supply: just 10 million
📌 Tier 1 listings on the horizon$LAND market cap feels tiny. With limited… pic.twitter.com/6Z6FpH79nG
— Seth Williams (@Krypto_Will) September 27, 2024
Recently, Landshare also jumped into the multi-chain game by integrating Polygon and Arbitrum. Landshare is not stopping there—more platforms are slated to join by year’s end, and it aims to be the number one platform tokenizing real-world assets.
Best RWA Crypto to Buy Now: ONDO
August 5 saw Blackrock stir the RWA crypto market with a $5 million ONDO token purchase, following a prior $3.11 million investment. Quickly amassing over $10 million in tokens, Black is pushing for speedier settlements on Ondo Finance, amplifying ONDO’s attraction.
Additionally, Ondo boasted a 101% increase in active addresses in August, with new addresses and zero-balance wallets increasing by 44% and 70%, respectively.
The surge in user engagement is a bullish signal for ONDO’s future.
Currently trading at $0.77, 99Bitcoin’s analysts predict that Ondo will break $1 by 2025.
We’ll keep you updated as BlackRock’s RWA portfolio continues to expand. For now, these are the top three RWA coins to watch.
EXPLORE: 19 New Cryptocurrencies to Invest in 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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