Ethena, the protocol behind USDe, plans to invest some of its reserves in tokenized real-world assets （RWA）, with BlackRock’s BUIDL fund expressing interest.
Points
- Ethena plans to allocate 7% of its collateral assets, worth $45 million, to tokenized RWAs.
- BlackRock’s BUIDL fund seeks an allocation of $34 million from Ethena’s reserves.
- Mountain Protocol has also shown interest in Ethena’s tokenization plans.
- All potential applicants must publicly post their proposals on Ethena’s governance forum.
Ethena, the protocol behind the $3.4 billion-yielding “synthetic dollar” token USDe, has announced plans to invest a portion of its reserves in tokenized real-world assets （RWA）. This move has attracted interest from BlackRock’s BUIDL fund, which is among the first applicants.
Ethena plans to allocate 7% of its $235 million USDT assets, approximately $45 million in excess reserves, to tokenized RWAs. BlackRock’s BUIDL fund is seeking an allocation of $34 million from these reserves. This development was explained in a post by Jonathan Espinosa of Securitize, BUIDL’s distribution partner.
Mountain Protocol, the issuer of the USDM-yielding stablecoin, has also expressed interest in participating in Ethena’s tokenization initiative. Founder Michael Carrica stated that the protocol would submit a proposal soon. Ethena requires all potential applicants to publicly post their proposals on the governance forum, ensuring transparency and community involvement.
解説
- Institutional Interest: BlackRock’s interest in Ethena’s tokenized RWA initiative highlights the growing involvement of traditional financial institutions in the crypto space.
- Community Involvement: Ethena’s requirement for public proposals ensures transparency and community participation, fostering trust and engagement.
- Market Impact: The tokenization of real-world assets by reputable
financial entities like BlackRock can significantly boost market confidence and encourage further investments in the cryptocurrency sector.