# New Stablecoin

*Ethena Unveils $UStb: A Safer Stablecoin Backed by BlackRock*

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-09-27

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Ethena is launching $UStb, a new stablecoin backed by BlackRock’s tokenized U.S. Treasuries fund, BUIDL, offering a more stable alternative to its existing $USDe.

**Key Highlights:**

\- **Introducing $UStb**: Set to launch in partnership with Securitize.

\- **BlackRock Backing**: Directly tied to short-term U.S. Treasuries for added stability.

\- **Different Risk Profile**: $UStb mitigates risks associated with $USDe’s volatility.

\- **Rapid Growth of $USDe**: Currently at a $2.6 billion supply, making it the fifth-largest stablecoin.

\- **Market Resilience**: $UStb addresses past challenges of $USDe’s reliance on crypto assets.

Ethena is also positioning $UStb for use as collateral on platforms like Bybit and Bitget, aiming to enhance its footprint in the DeFi space with more stable digital assets.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/new-stablecoin)*