BlackRock Adds Ethena's USDe to Aladdin and Makes BUIDL Its Stablecoin Reserve

BlackRock added Ethena's USDe to its Aladdin risk platform and made its tokenized Treasury fund BUIDL the main reserve for Ethena's white-label stablecoins, alongside a $100 million Securitize liquidity facility.

BlackRock Adds Ethena's USDe to Aladdin and Makes BUIDL Its Stablecoin Reserve BlackRock added Ethena's USDe to its Aladdin risk platform and made its tokenized Treasury fund BUIDL the main reserve for Ethena's white-label stablecoins, alongside a $100 million Securitize liquidity facility. Aaron Rafferty June 29, 2026 Key Takeaways: BlackRock added Ethena's USDe synthetic dollar to Aladdin, the risk platform used by asset managers, banks, insurers, and pension funds. BlackRock's tokenized Treasury fund BUIDL will become the main reserve asset for the stablecoins Ethena builds for other companies, deepening a tie that already made BUIDL collateral for Ethena's USDtb. Ethena is adding a $100 million liquidity facility through Securitize so eligible BUIDL holders can swap in and out of supported stablecoins outside normal market hours. BlackRock is adding Ethena's USDe to Aladdin, the risk and portfolio system the asset manager runs for banks, insurers, pension funds, and other large institutions, according to a report on June 29 , an integration Ethena confirmed on X . The move gives those institutions a standard way to view and manage USDe next to the rest of their holdings. The deal goes further than monitoring. BlackRock's tokenized Treasury fund, BUIDL, will become the main reserve asset for the stablecoins Ethena issues as a service for other companies. BUIDL already served as default collateral for Ethena's institutional stablecoin, USDtb, and holds tokenized short-term Treasuries, cash, and repo. Ethena is also committing a $100 million liquidity facility through Securitize, the regulated transfer agent for BUIDL. The facility lets eligible BUIDL holders swap into supported stablecoins, including USDC and USDtb, and move back in