Why did BlackRock integrate Ethena's USDe?

BlackRock (NYSE:BLK) integrated Ethena's USDe into its Aladdin platform to give institutional clients access to the synthetic dollar through existing portfolio management and risk management workflows. Ethena said the integration expands its existing relationship with BlackRock.

What does the BlackRock and USDe integration mean for institutions?

BlackRock said institutions using Aladdin can now allocate to USDe without leaving their existing investment and risk management platform. StablecoinX founder Ted Chen said the platform supports organisations managing more than US$20 trillion in assets.

How did Ethena (CRYPTO:ENA) react to the BlackRock announcement?

Ethena (CRYPTO:ENA) rose as much as 12% to US$0.083 before easing to around US$0.081 after the announcement. The token outperformed the broader cryptocurrency market while Bitcoin (CRYPTO:BTC) traded below US$60,000.

What is BlackRock's expanded relationship with Ethena?

BlackRock and Ethena expanded their existing relationship by making BlackRock's BUIDL tokenised money market fund the primary reserve asset for Ethena's white-label product. Ethena also said it will provide a liquidity facility for BlackRock's tokenised products.

What other developments has Ethena announced recently?

Ethena (CRYPTO:ENA) recently selected Centrifuge as its tokenisation partner, entered an agreement with Janus Henderson, and saw StablecoinX begin trading on Nasdaq following its merger with TLGY Acquisition Corp. The company said these developments expand its institutional ecosystem.

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BlackRock adds USDe to Aladdin platform

Written by Liezl GambePublished Jun 30, 2026, 1:25 AMLast Updated Jul 7, 2026, 12:17 PM

BlackRock integrated Ethena's USDe into its Aladdin platform, expanding institutional access to the synthetic dollar.
Ethena (CRYPTO:ENA) rose as much as 12% after the announcement, outperforming the broader crypto market as Bitcoin (CRYPTO:BTC) traded below US$60,000.
Ethena said the integration builds on its existing relationship with BlackRock and expands institutional access to tokenised financial products.

BlackRock integrated Ethena's USDe into its Aladdin investment platform, allowing institutional clients to access the synthetic dollar through their existing portfolio management and risk management systems.

Ethena said the integration expands its existing relationship with BlackRock, with the asset manager's tokenised money market fund BUIDL becoming the primary reserve asset for its white-label product while Ethena also provides a liquidity facility for BlackRock's tokenised offerings.

“That’s over US$20 trillion in assets that these managers have on the Aladdin platform,” said StablecoinX founder Ted Chen.

Ethena said institutions using Aladdin can now allocate to USDe within their existing workflows, while the company did not disclose financial terms or a timeline for the broader rollout of the additional services.

Ethena (CRYPTO:ENA) rose as much as 12% to US$0.083 before easing to around US$0.081, outperforming the broader cryptocurrency market, while following the announcement BlackRock's share price was unchanged.

The announcement follows Ethena's recent agreements with Janus Henderson and Centrifuge, as well as the Nasdaq listing of StablecoinX after its merger with TLGY Acquisition Corp., expanding the company's institutional ecosystem.

According to Ted Chen, organisations managing more than US$20 trillion through Aladdin, including major banks, insurers and asset managers, can now integrate USDe into their investment and risk management processes, potentially increasing institutional adoption over time.

At the time of reporting, Ethena price was $0.07735.

BlackRock adds USDe to Aladdin platform

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