Ethena has teamed up with BlackRock to add its synthetic dollar, USDe, to Aladdin, BlackRock’s portfolio management and risk analytics platform that handles over $20 trillion in assets. This partnership lets institutional investors using Aladdin access Ethena’s yield-bearing digital dollar, showing how traditional finance and blockchain are coming together.
In this partnership, BlackRock’s tokenized U.S. Treasury fund, BUIDL, will be the main collateral for Ethena’s new products for institutions. Ethena will also help provide liquidity for BlackRock’s tokenized assets, making secondary market trading smoother.
This partnership should help USDe reach more users beyond just those in crypto by making it available on one of the world’s top institutional investment platforms. Ethena says the integration gives financial institutions access to a regulated setting and lets them benefit from blockchain-based yield opportunities.
This news also shows the growing interest in tokenized real-world assets (RWAs), an area that has attracted big asset managers who want to bring traditional financial products onto blockchain networks.
Separately, Ethena recently invested $250 million in Securitize’s Tokenized AAA CLO Fund (STAC) on the Solana network. This investment adds more senior AAA-rated collateralized loan obligations, developed with BNY Mellon, to back USDe.
After the announcement, Ethena’s token ENA rose more than 5% as investors responded well to the BlackRock partnership. Analysts say this deal could speed up institutional adoption of tokenized assets and make USDe stronger among yield-bearing digital dollar products.
Excited to announce our collaboration with @Blackrock.
→Integration of USDe into BlackRock’s Aladdin platform
→BUIDL as the primary asset for our whitelabel product
→Liquidity facility on BlackRock tokenized productsThe integration of USDe on Aladdin provides unique… pic.twitter.com/onP6o8hIpp
— Ethena (@ethena) June 29, 2026
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