Ethena and Securitize Compete in $1B Tokenization Race with BlackRock Partnership

Ethena and Securitize Compete in $1B Tokenization Race with BlackRock Partnership

Stablecoin issuer Ethena and tokenization platform Securitize have joined forces to participate in Sky’s highly anticipated $1 billion tokenization competition. Their proposal centers on integrating Ethena’s USDtb stablecoin with BlackRock’s tokenized U.S. treasuries fund, BUIDL, as the primary reserve asset. Launched in March 2024, BUIDL is the largest tokenized U.S. treasuries fund by market cap. Ethena and Securitize aim to leverage BUIDL’...

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