[News]Securitize and Ethena Labs Launch 24/7 Atomic Swap Channel Between BUIDL and USDtb

Securitize, a leading digital asset securities platform, and Ethena Labs, developer of the yield-bearing stablecoin USDtb, have announced a major advancement in tokenized finance: a 24/7 atomic swap mechanism between BlackRock’s tokenized U.S. Treasury fund BUIDL and USDtb. This integration marks a leap forward in on-chain liquidity and sets a precedent for seamless, permissionless access to Real World Assets (RWA) via decentralized finance (DeFi).

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Unlocking On-Chain Liquidity for Institutional and DeFi Users

The atomic swap channel enables qualified users to instantly convert between BUIDL and USDtb, with Securitize acting as the compliance gateway. This removes traditional time-based constraints and ensures constant liquidity for stablecoin users and institutions seeking exposure to tokenized U.S. Treasuries.

“With this integration, verified users can swap BUIDL and USDtb at any time—no middlemen, no delays,” Securitize announced via X (formerly Twitter).

This innovation expands institutional access to on-chain dollar-denominated instruments while empowering DeFi protocols to utilize yield-bearing stablecoins more efficiently.

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What Is USDtb?

Launched by Ethena Labs, USDtb is a fully backed stablecoin designed for durability and transparency. Roughly 90% of its reserves are held in BlackRock’s BUIDL fund, a tokenized product representing short-term U.S. Treasuries. The remaining reserves include USDe, an algorithmic stablecoin that helps diversify risk through derivatives hedging.

USDtb currently holds a market capitalization of approximately $1.45 billion, according to CoinGecko.

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BUIDL: The Leading Tokenized Treasury Fund

Issued in March 2024 by BlackRock, BUIDL quickly became the most significant tokenized Treasury product on public blockchains. It was the first on-chain institutional fund to surpass $1 billion in assets under management and has continued to grow rapidly.

As of now, the fund’s Total Value Locked (TVL) exceeds $2.87 billion, per DeFiLlama, solidifying its position as a foundational component in the growing RWA ecosystem.

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Building Infrastructure: The Converge Chain

In tandem with the swap mechanism, Securitize and Ethena Labs have co-developed Converge, an EVM-compatible Layer 1 blockchain tailored for tokenized assets. This network aims to streamline compliance, settlement, and interoperability for institutional-grade RWAs.

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Setting the Standard for Yield-Bearing Stablecoins

This 24/7 atomic swap channel isn’t just a technical improvement—it’s a blueprint for how tokenized assets and stablecoins can operate in tandem. As RWA adoption grows, such infrastructure bridges the gap between traditional finance and crypto-native innovation.

By combining high-quality reserves, real-time liquidity, and regulatory compliance, USDtb and BUIDL offer a compelling model for future stablecoins and DeFi tools built on real-world value.

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Disclaimer:
Cryptocurrency investments are inherently risky and may result in the loss of your entire investment. Conduct your own due diligence before engaging in any financial transactions involving crypto or RWAs.