Securitize and Ethena Labs have launched a 24/7 liquidity facility worth up to $100 million for BlackRock’s USD Institutional Digital Liquidity Fund, known as BUIDL. The setup is designed to let eligible investors exchange shares of the tokenized fund for supported stablecoins, including USDC, outside normal market hours.

The rollout follows a plan the companies first disclosed in June and extends their broader work around BUIDL and USDtb, Ethena’s digital dollar product that is backed primarily by BUIDL.

Initial liquidity and how the facility starts

At launch, the facility is opening with $50 million in available liquidity. That amount is divided evenly between BUIDL and USDC, according to the announcement.

Securitize and Ethena said a further $50 million can be made available within an hour as the initial liquidity is used, bringing the total capacity to $100 million.

Part of an earlier BUIDL and USDtb integration

The new facility builds on an existing relationship between the two companies. Their earlier integration was aimed at enabling around-the-clock atomic swaps between BlackRock’s tokenized fund and Ethena’s stablecoin infrastructure.

That wider collaboration has centered on BUIDL and USDtb. Ethena has described USDtb as a digital dollar product backed primarily by BUIDL, making the BlackRock fund a key part of that arrangement.

Push for always-on institutional liquidity

Securitize framed the launch as another step toward extending institutional access to liquidity beyond the schedule of traditional financial markets. In a statement, co-founder and CEO Carlos Domingo said the goal is to provide access to liquidity when investors need it rather than only when legacy markets are open.

He also said the company sees this type of infrastructure as part of the effort to bring more real-world assets onchain.

Broader expansion of BUIDL in onchain markets

The launch comes as BlackRock continues to broaden BUIDL’s role across onchain venues. In February, BlackRock and Securitize said they had tapped Uniswap for direct onchain trading in BUIDL.

That move allowed eligible investors to trade the tokenized Treasury fund, which the source article described as a $2.4 billion fund, through UniswapX. The new liquidity facility adds another access point for eligible holders, this time focused on stablecoin conversions outside traditional trading hours.

Source: www.theblock.co