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.