Etena Labs increases Buidl stocks to $ 1.29 billion and strengthens dependence on Blackrock Fund

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Ethena Labs erhöht BUIDL-Token-Bestand auf 1,29 Milliarden Dollar Ethena Labs hat kürzlich 225 Millionen Dollar in BUIDL-Token geprägt, wodurch der Gesamtbestand auf beeindruckende 1,29 Milliarden Dollar angewachsen ist. Diese Tokenisierung wurde in Zusammenarbeit mit BlackRock durchgeführt, einem der größten Vermögensverwalter weltweit. Tokenisierte BUIDL-Fonds von BlackRock Der BUIDL-Token stellt eine tokenisierte Version eines von BlackRock verwalteten Geldmarktfonds dar, der insbesondere aus Vermögenswerten wie Bargeld, kurzfristigen US-Staatsanleihen und Repo-Vereinbarungen besteht. Die Kursentwicklung und das Wachstum des BUIDL-Token sind für Ethena von zentraler Bedeutung, da über 90 % des Bestands des synthetischen Stablecoins USDe aus diesen tokenisierten Vermögenswerten stammen. Der Rest des USDe-Bestands …
Ethena Labs increases Buidl token stock to $ 1.29 billion Etena Labs recently shaped $ 225 million in Buidl token, which has grown to an impressive $ 1.29 billion. This tokenization was carried out in cooperation with Blackrock, one of the largest asset managers worldwide. Tokenized Buidl Fund of Blackrock The Buidl-token represents a tokenized version of a money market fund managed by Blackrock, which consists in particular of assets such as cash, short-term US state bonds and repo agreements. The course development and growth of the Buidl token are of central importance for Ethena, since over 90 % of the existing of the synthetic stable coin comes from these tokenized assets. The rest of the Usde stock ... (Symbolbild/KNAT)

Etena Labs increases Buidl-token stock to $ 1.29 billion

ethena Labs recently shaped $ 225 million in Buidl token, which has grown to impressive $ 1.29 billion. This tokenization was carried out in cooperation with Blackrock, one of the largest asset managers worldwide.

tokenized Buidl funds from Blackrock

The Buidl token represents a tokenized version of a money market fund managed by Blackrock, which consists in particular of assets such as cash, short-term US state bonds and repo agreements. The course development and growth of the Buidl token are of central importance for Ethena, since over 90 % of the existing of the synthetic stable coin comes from these tokenized assets. The rest of the Usde stock is supplemented by Tether (USDT) and USD Coin (USDC).

dependence on black rock

This great dependence on the achievements of Buidl token offers Ethena on the one hand a solid basis, supported by clear and legal framework. On the other hand, such a dependence on risks, especially if the strategic decisions of the partners should change. Ethena GmbH, a subsidiary of Ethena Labs, shows an example of such difficulties, which recently banned from Bafin, the German Financial Supervisory Authority, to offer Usde Stablecoin in Germany. This led to the distribution of Usde in the region.

trend of the tokenized government bonds

The aggressive approach of Ethena can be understood against the background of the current market conditions. The tokenization of assets based on US state bonds is trendy and has achieved a market capitalization of $ 5.2 billion. The average return in this sector is 4.34 %, which is attractive compared to classic savings interest. Ethena tries to take advantage of this dynamic by creating a connection between traditional financial instruments and the Defi world. This could be particularly interested in small investors who are looking for assets that offer real returns.

New blockchain initiative: Converge

In March, Ethena Labs and Securitize announced the introduction of a new blockchain called Converge. This blockchain will be compatible with the Ethereum Virtual Machine and aims to provide small access to defect applications and institutional products. Converge could be seen as a kind of "toll road" that connects Defi with traditional financial markets - an access that is open to anyone who knows the route.

Cooperation with the Emirates NBD Bank

In addition to Ethena's activities, the Emirates NBD Bank based in Dubai has also merged with black rock. This partnership aims to provide the bank's asset management customers access to alternative asset classes, including private loans and multi-alternatives. This indicates that the traditional financial world also takes over a defi structure, but in a more formal execution.

Overall, Ethena Labs, with his initiatives and partnerships, shows how the financial sector is developing and brings new ways to make modern financial instruments accessible to a broader public.