The investment giant BlackRock and protocol Ethena Labs announced a major expansion of their strategic partnership. A key element of the collaboration will be the integration of the synthetic dollar USDe into Aladdin, BlackRock’s portfolio and risk management platform for financial institutions with more than $20 trillion in assets under management.

As part of a new phase of engagement, the tokenized BlackRock Treasury Fund BUIDL will become a core asset for Ethena’s ecosystem. In addition, Ethena will open a $100 million liquidity line through the Securitize platform. This innovation will allow holders of BUIDL tokens to exchange them seamlessly for USDC, USDtb and other stablecoins, as well as perform reverse transactions outside the standard operating hours of traditional financial markets.

Robert Mitchnik, global head of digital asset management at BlackRock, emphasized that such a liquidity line provides an unprecedented level of interoperability, which is the main benefit of tokenization of treasury instruments. Founder Ethena Guy Young, for his part, noted that mass adoption of digital assets is directly dependent on the development of infrastructure linking traditional financial institutions to onceying products through familiar interfaces.

It should be noted that unlike the classic USDT and USDC stablecoins, USDe is a synthetic dollar. Its economic model relies on a delta-neutral strategy, which allows it to generate potentially higher returns for users.