Ethena Labs, the developer of the Ethereum-based synthetic dollar protocol, has announced the launch of UStb, a new fiat stablecoin. Backed by the BlackRock USD Institutional Digital Liquidity Fund (BUILD) and in partnership with Securitize Markets LLC, UStb offers a distinct alternative to the existing USDe stablecoin. BUILD, BlackRock’s first tokenized fund launched in March 2024 on a public blockchain Ethereum, allows investors to earn interest in U.S. dollars through Securitize Markets LLC. Securitize Markets LLC specializes in tokenizing real-world assets (RWA), providing investors with the opportunity to access tokenized digital assets through innovative blockchain technology projects. BUILD invests in U.S. Treasury bills, notes and other obligations and has rapidly grown to become the largest tokenized U.S. Treasury fund, currently accumulating over $522 million in assets under management (AUM).