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RWA & Tokenization · 1 min read

Securitize and Ethena Launch $100M 24/7 Liquidity Facility for BlackRock's BUIDL

The round-the-clock facility lets eligible institutional investors swap between BUIDL and stablecoins outside standard banking hours.

Editorial oversight: Julian Mercer, Chief Editor
Bullish
$USDC $1.00 0.0% $ENA $0.1386 −10.1%

At a glance

What happened
Securitize and Ethena Labs launched a $100 million 24/7 liquidity facility for BlackRock's tokenized BUIDL fund on Nov. 12.
Why it matters
Eligible investors can now trade between BUIDL and stablecoins such as USDC over weekends and outside traditional banking hours.
Who is affected
Eligible institutional investors holding BlackRock's BUIDL fund, Securitize platform users, and Ethena USDtb participants.
Takes effect
2026-11-12
What's next
No next step announced.
Primary source
prnewswire.com: Securitize and Ethena Launch $100 Million Liquidity Facility for BlackRock's BUIDL

Key points

  • Securitize and Ethena launched a $100M liquidity facility enabling 24/7 swaps between BlackRock's BUIDL and stablecoins like USDC.
  • The pool opens with $50M in initial liquidity ($25M USDC and $25M BUIDL), with another $50M replenishable within about an hour.
  • The infrastructure delivers on a June agreement and supports Ethena's USDtb token, which is primarily backed by BUIDL.

Securitize Corp. and Ethena Labs rolled out a $100 million round-the-clock liquidity facility on Nov. 12 for BlackRock's USD Institutional Digital Liquidity Fund ($BUIDL) 1. Operated through Securitize and backed by Ethena, the venue enables eligible institutional investors to convert between BUIDL and supported stablecoins—including Circle's $USDC—outside traditional financial market operating hours 1. The rollout realizes a framework originally announced in June under an expanded collaboration between Ethena and BlackRock 1.

While public blockchains settle transactions non-stop, offchain financial market liquidity has historically remained constrained by conventional banking schedules and payment rails 1. The new setup is designed to remove weekend settlement delays for tokenized fund holders 1. According to Securitize co-founder and CEO Carlos Domingo, the system provides institutional participants with on-demand access to liquidity rather than forcing them to wait for banking windows to reopen 1. At the time of writing, Ethena's governance token $ENA traded down 10.3% over the prior 24 hours at $0.1375.

Structure and Replenishment Mechanism

The facility begins operations with $50 million in initial funded liquidity, split evenly between $25 million in USDC and $25 million in BUIDL 1. As market participants tap this initial pool, an additional $50 million tranche can be supplied within roughly one hour, bringing total operational capacity to $100 million 1. Securitize clarified that the $100 million headline figure represents total potential capacity via this replenishment pipeline rather than an amount permanently deployed or instantaneously on call 1.

The launch expands an existing partnership between Securitize and Ethena involving BUIDL and USDtb, Ethena's digital dollar asset backed primarily by BlackRock's tokenized fund 1. Securitize, which reported approximately $5 billion in assets under management as of September 2026, manages tokenized products alongside financial managers including Apollo, KKR, and BlackRock 1.

Questions this story raises

What is the initial size of the BUIDL liquidity facility?
The facility begins with $50 million in funded liquidity, divided equally into $25 million of USDC and $25 million of BUIDL, with up to $50 million more replenishable within approximately one hour.
Which assets can be converted through the facility?
Eligible investors can exchange BlackRock's BUIDL for supported stablecoins, including USDC, or convert stablecoins back into BUIDL outside normal banking hours.

Sources

  1. [1] Securitize and Ethena Launch $100 Million Liquidity Facility for BlackRock's BUIDL — prnewswire.com, November 12, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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