# New Stablecoin

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

**Published by:** [aundingoya.eth](https://paragraph.com/@aundingoya.eth/)
**Published on:** 2024-09-27
**URL:** https://paragraph.com/@aundingoya.eth/new-stablecoin

## Content

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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