BlackRock plans to integrate USDe into its $25 trillion asset management investment platform

Foresight News reported, according to The Block, that BlackRock and Ethena Labs have announced a deepened partnership, adding Ethena's stablecoin USDe to the list of crypto assets supported by BlackRock’s Aladdin investment management platform, which manages $25 trillion in assets. The two parties will also provide a $100 million liquidity instrument through Securitize to serve BlackRock’s tokenized U.S. Treasury fund BUIDL. The new arrangement allows eligible BUIDL clients to exchange BUIDL for stablecoins such as USDC and USDtb during off-market hours and to convert back to BUIDL, enhancing interoperability between on-chain U.S. Treasury funds and stablecoins.

Robert Mitchnick, BlackRock’s Global Head of Digital Assets, stated that this liquidity arrangement provides the core, frictionless interoperability required for tokenized U.S. Treasury funds. The report noted that USDe is a higher-yield synthetic dollar, differing from fiat-backed USDC and USDT. BlackRock and Ethena previously collaborated around the stablecoin USDtb (primarily supported by BUIDL), and BUIDL currently has a total value locked of about $3 billion.