BlackRock Aladdin Partners with Ethena to Expand BUIDL Stablecoin and RWA Interoperability

Odaily Odaily Odaily reports that BlackRock and Ethena Labs have announced a partnership to provide institutional investors with deeper access to Ethena-related products on its Aladdin platform, while also enhancing the liquidity and interoperability of its tokenized dollar instruments, including BUIDL.

Under the agreement, Ethena will support a $100 million liquidity mechanism through Securitize for BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). This mechanism allows eligible clients to exchange between BUIDL and USDC, USDtb, and other supported stablecoins, and enables bi-directional conversion outside of regular trading hours.

Robert Mitchnick, Head of Digital Assets at BlackRock, stated that this liquidity arrangement will enhance the frictionless interoperability of the tokenized treasury fund, further unlocking the structural advantages of on-chain treasury products. Launched in 2024 as an Ethereum-based tokenized U.S. Treasury fund, BUIDL currently has approximately $3 billion in assets under management, making it one of the largest tokenized treasury products globally. This partnership further strengthens BlackRock's strategy in the Real World Assets (RWA) and digital dollar infrastructure sectors. (The Block)