Ethena Labs and Securitize have announced a major breakthrough in digital finance infrastructure: 24/7 atomic swaps between BlackRock’s tokenized fund BUIDL and Ethena’s synthetic stablecoin USDtb.
The integration enables seamless, permissionless transfers for qualified participants, marking a new step toward round-the-clock institutional access to tokenized U.S. Treasurys.
“Through the USDtb Liquidity Fund, qualified participants onboarded via Securitize can now swap from BUIDL to Ethena Labs’ USDtb permissionlessly, 24/7/365,” Securitize stated on X.
The breakthrough allows both institutional investors and DeFi users to frictionlessly move capital between a fully-backed onchain Treasury product and a synthetic dollar stablecoin, creating a real-time bridge between traditional yield and crypto-native liquidity.
BUIDL: BlackRock’s Tokenized Fund Passes $2.88B TVL
Launched in March 2024, BlackRock’s BUIDL (USD Institutional Digital Liquidity Fund) remains the largest tokenized Treasury fund on any public blockchain. It became the first institutional-grade onchain fund to surpass $1 billion AUM earlier this year and has since grown to $2.88 billion in total value locked, according to DeFi Llama.
BUIDL is part of a broader trend where institutional capital is increasingly flowing into tokenized real-world assets (RWAs). The integration with Ethena’s USDtb allows that value to be more fluidly accessed and used within DeFi protocols and stablecoin settlements.
New Standard for Onchain Liquidity
By enabling atomic 24/7 swaps between stablecoins and tokenized Treasury assets, this collaboration between BlackRock (via BUIDL), Securitize, and Ethena Labs paves the way for a more efficient, always-on financial system that blends traditional capital markets with decentralized finance.
The move signals how major institutions are leveraging blockchain technology not just for custody or settlement—but for live, programmable liquidity across asset classes.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/blackrocks-buidl-fund-now-enables-24-7-swaps-with-ethenas-usdtb-stablecoin/