Key Takeaways
- • Securitize and Ethena Labs launched a $50 million liquidity facility for BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), split equally between BUIDL and USDC, with an additional $50 million available within an hour as initial liquidity is used.
- • The facility lets eligible investors swap BUIDL shares for supported stablecoins, including USDC, on a 24/7 basis outside conventional market hours.
- • The launch extends a $100 million facility first announced in June and builds on the partnership tied to BUIDL and Ethena's USDtb, a digital dollar product backed primarily by BUIDL.
- • The move follows BlackRock and Securitize's February rollout of direct onchain BUIDL trading via Uniswap, which gave eligible investors access to the $2.4 billion tokenized Treasury fund through UniswapX.
Summary
Securitize and Ethena Labs have put into operation a liquidity facility for BlackRock's BUIDL tokenized fund, according to The Block, which reported the launch. The facility started with $50 million of initial liquidity, divided equally between BUIDL and USDC, and the companies say an additional $50 million can be made available within an hour as the initial liquidity is used. Eligible investors can exchange BUIDL shares for supported stablecoins on a 24/7 basis, outside conventional trading hours.
The firms first announced the $100 million facility in June. The launch extends an existing partnership tied to BUIDL and USDtb, Ethena's digital dollar product that is backed primarily by BUIDL. Carlos Domingo, co-founder and chief executive of Securitize, said the launch is another step toward giving institutional investors access to liquidity when needed rather than only when traditional markets are open. Guy Young, founder of Ethena Labs, said the facility helps narrow the gap between fixed market hours and always-on blockchain trading.
The move adds to BlackRock's broader expansion of BUIDL in onchain markets as tokenized Treasury products gain traction among institutional participants. In February, BlackRock and Securitize turned to Uniswap for direct onchain BUIDL trading, allowing eligible investors to trade the $2.4 billion fund through UniswapX. The facility reinforces the role of stablecoin conversion and secondary liquidity in making tokenized funds more usable in day-to-day market activity.
The firms first announced the $100 million facility in June. The launch extends an existing partnership tied to BUIDL and USDtb, Ethena's digital dollar product that is backed primarily by BUIDL. Carlos Domingo, co-founder and chief executive of Securitize, said the launch is another step toward giving institutional investors access to liquidity when needed rather than only when traditional markets are open. Guy Young, founder of Ethena Labs, said the facility helps narrow the gap between fixed market hours and always-on blockchain trading.
The move adds to BlackRock's broader expansion of BUIDL in onchain markets as tokenized Treasury products gain traction among institutional participants. In February, BlackRock and Securitize turned to Uniswap for direct onchain BUIDL trading, allowing eligible investors to trade the $2.4 billion fund through UniswapX. The facility reinforces the role of stablecoin conversion and secondary liquidity in making tokenized funds more usable in day-to-day market activity.
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