Securitize and Ethena's $100 million BlackRock BUIDL liquidity facility goes live

Securitize and Ethena Labs have launched a $100 million, 24/7 liquidity facility for BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). It will allow eligible investors to exchange shares of the tokenized fund for supported stablecoins, including USDC, outside traditional market hours.

The facility launches with $50 million in initial liquidity, split evenly between BUIDL and USDC, with another $50 million available within an hour as liquidity is used.

The initiative builds on the companies' existing collaboration around BUIDL and USDtb, Ethena's digital dollar product backed primarily by BUIDL. The firms first announced the $100 million facility in June.

"With this facility now live, we're taking another step toward a financial system where institutional investors can access liquidity when they need it, not just when traditional markets are open," said Carlos Domingo, co-founder and CEO of Securitize. "That's the infrastructure we believe will help bring more of the world's assets onchain."

The launch follows an earlier integration between Ethena Labs and Securitize in June 2025 to offer 24/7 atomic swaps between BlackRock's tokenized fund and Ethena's stablecoin.

"By bringing this facility online with Securitize, we're helping close the gap between traditional market hours and the always-on nature of blockchain markets," said Guy Young, founder of Ethena Labs. "It's another important step in making tokenized assets more useful for institutional participants."

The latest development also comes as BlackRock expands BUIDL's presence in onchain markets. In February, BlackRock and Securitize tapped Uniswap for direct onchain BUIDL trading, allowing eligible investors to trade the $2.4 billion tokenized Treasury fund through UniswapX.