Securitize and Ethena Labs launched a $100 million liquidity facility for BlackRock’s USD Institutional Digital Liquidity Fund, known as BUIDL, The Block reported on November 12. The facility lets eligible investors swap BUIDL shares for supported stablecoins, including USDC, around the clock, including outside traditional market hours.
According to The Block, the facility starts with $50 million in initial liquidity, split roughly evenly between BUIDL and USDC at about $25 million each. A further $50 million is available within an hour as the initial liquidity is used. The firms first announced the $100 million facility in June.
It builds on earlier work between the two companies. Ethena’s USDtb stablecoin is backed primarily by BUIDL, and The Block previously reported that Ethena Labs and Securitize enabled 24/7 swaps between USDtb and BlackRock’s tokenized fund. The Block also noted that BlackRock and Securitize enabled direct onchain BUIDL trading through UniswapX in February, and described BUIDL as a $2.4 billion tokenized Treasury fund.
Securitize co-founder and CEO Carlos Domingo said the facility is a step toward letting institutions access liquidity “when they need it, not just when traditional markets are open.” Ethena Labs founder Guy Young said it helps close the gap between traditional market hours and always-on blockchain markets.
The Block’s report does not detail eligibility criteria, fees, settlement times or limits, and the facility details and executive quotes come from the companies’ announcement.
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Sources:
The Block: Securitize and Ethena’s $100 million BlackRock BUIDL liquidity facility goes live
The Block: BlackRock’s Aladdin platform adds deeper support for Ethena’s stablecoin products
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