The new stablecoin USDtb launched by Ethena Labs achieved a TVL of 65.4 million dollars on its first day

ChainCatcher news, the new stablecoin USDtb launched by the stablecoin protocol Ethena Labs achieved a TVL of 65.4 million USD on its first day. Ethena Labs stated in an announcement on December 16: "Ethena is able to close the hedging positions of USDe and reallocate its supporting assets to USDtb to further reduce associated risks."

José Maria Macedo, one of the founders of blockchain development company Delphi Labs, predicts that USDtb will become the largest tokenized treasury product within a month of its launch. Ethena's growth director Seraphim Czecker mentioned that the scale of USDtb could potentially expand to 100 billion USD.

Previous news, according to official news, Ethena Labs announced the launch of the new stablecoin product USDtb supported by BlackRock BUIDL. USDtb has the same characteristics as existing fiat-backed stablecoins like USDC or USDT, utilizing cash or cash-equivalent reserves to support a 1:1 ratio.