HomeEverything
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
← All Stories

BlackRock integrates Ethena's synthetic dollar USDe into Aladdin platform

Created at 29 Jun · 2:06 PM2 sources↑ Market-relevant
IN SHORT

BlackRock is integrating Ethena's synthetic dollar, USDe, into its Aladdin investment platform. The move aims to boost liquidity and provide institutional access to the crypto asset, with Ethena's governance token, ENA, seeing a price increase.

✉Newsletter

PiQ Daily

Pick your topics. Get only what matters, on your cadence.

Key Numbers

8%ENA token price increase
$20 trillionAssets managed on Aladdin platform
$480 billionAssets overseen by Janus Henderson
$250 millionEthena allocation to Securitize fund

Who's Involved

BlackRock
World's largest asset manager integrating Ethena's USDe into Aladdin
Ethena
Crypto protocol integrating with BlackRock's Aladdin platform
USDe
Ethena's synthetic dollar token being integrated
ENA
Ethena's governance token that rose 8%
BUIDL
BlackRock's tokenized money market fund serving as reserve asset
Janus Henderson
Asset manager that made a strategic investment in ENA
BlackRock integrates Ethena's synthetic dollar USDe into Aladdin platform

↳ Why This Matters

The integration signifies a major traditional finance firm embracing a DeFi protocol's product, potentially paving the way for broader institutional adoption of crypto assets and increasing liquidity for synthetic dollars.

Key facts

  • BlackRock is integrating Ethena's synthetic dollar token, USDe, into its Aladdin investment platform.
  • The integration aims to provide institutional access to USDe for financial institutions managing over $20 trillion on Aladdin.
  • BlackRock's tokenized money market fund, BUIDL, will be the primary reserve asset for a new Ethena white-label product.
  • Ethena will support a liquidity facility for BlackRock's tokenized products.
  • Ethena's governance token, ENA, saw a price increase following the announcement.

BlackRock, the world's largest asset manager, is integrating Ethena's synthetic dollar token, USDe, into its Aladdin investment management platform. This move aims to provide institutional access to the crypto asset for financial institutions managing over $20 trillion on the platform. Following the announcement, Ethena's governance token, ENA, increased by 8%.

As part of the collaboration, BlackRock's tokenized money market fund, BUIDL, will serve as the primary reserve asset for a new Ethena white-label product. Additionally, Ethena will support a liquidity facility for BlackRock's tokenized products.

This integration follows Ethena's recent partnerships, including investments from Janus Henderson and Coinbase Ventures, and its selection of Centrifuge as a tokenization partner. Janus Henderson, overseeing approximately $480 billion, has invested in ENA and plans to utilize USDe for treasury management.

Frequently asked questions

Ethena is a crypto protocol that offers a 'synthetic dollar' token called USDe, designed for on-chain savings and settlement, aiming to provide yield.

Aladdin is BlackRock's portfolio construction, trading, and risk management platform used by major financial institutions worldwide.

It represents a major traditional finance firm embracing a DeFi protocol's product, potentially paving the way for broader institutional adoption of crypto assets.

What Happens Next

01Establishment of a liquidity facility for BlackRock's tokenized products.
02Development of a forthcoming white-label product using BUIDL as reserve asset.

Get the newsletter.

Pick the topics you actually care about. We'll email when there's news worth your time, on the cadence you choose. Cancel any time from your account.

Cadence

How It Developed

BlackRock will integrate Ethena's USDe token into its Aladdin platform.
BlackRock is integrating Ethena's USDe into its Aladdin investment platform.
BlackRock's BUIDL will serve as the primary asset for Ethena's whitelabel product.
Ethena will support a liquidity facility on BlackRock’s tokenized products.

Sources

T1
BlackRock pushes deeper into DeFi with Ethena integration, sending ENA up 8%CoinDesk
T1
BlackRock Integrates Ethena’s USDe Into $20T Aladdin Platform, ENA Climbs 5%CoinGape

Related Stories

BNY Mellon expands stablecoin services for institutions, starting with Circle's USDC
29 Jun · 2:50 PM
Ripple proposes XRPL lending protocol for institutions
29 Jun · 3:05 PM
EU Watchdog EBA Details Big Crypto Fines as Landmark Laws Bite
28 Jun · 4:10 PM
Arthur Hayes Backs Synapse Hypercall as Deribit Rival, SYN Token Gains 26%
29 Jun · 7:15 AM
Sharplink Buys $62.4M of ETH After Eight-Month Pause
29 Jun · 3:05 AM