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USDtb: The Ethena stablecoin backed by BlackRock's digital funds

Intermediate
Stablecoin
Oct 13, 2025
10 min read
0

Stablecoins have become a cornerstone of the crypto ecosystem, providing stability in a market known for its volatility. Among recent innovations is USDtb, a new stablecoin from Ethena Labs that leverages BlackRock's tokenized funds to create a reliable digital dollar alternative. Starting mid-October 2025, USDtb is becoming a fully compliant US-based stablecoin, with a new regulated custodian and issuer, the Anchorage Digital crypto bank.

This article examines USDtb's unique structure, its relationship with Ethena's existing USDe stablecoin and the way it bridges traditional finance with decentralized systems to offer a differentiated risk profile for both retail and institutional users.

Key Takeaways:

  • USDtb is a blockchain-based USD stablecoin primarily backed by BlackRock's BUIDL tokenized treasury fund. It provides institutional-grade stability with 24/7 accessibility in volatile market conditions.

  • Starting in mid-October 2025, the issuance of USDtb will be handled within the US by Anchorage Digital Bank, the only federally regulated crypto bank.

  • Looking to trade USDtb tokens? Bybit now offers the USDtb/USDT Spot trading pair.

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