Crypto Scenario Insights
What happened
BlackRock has integrated Ethena's USDe into its Aladdin risk management platform and designated BUIDL as the main reserve for Ethena's whitelabel stablecoins.
What we think
The integration of Ethena's USDe into BlackRock's Aladdin platform and the expanded use of BUIDL as a reserve asset are significant for institutional credibility and the RWA narrative.
Read the analysis
BlackRock integrates USDe into Aladdin: A catalyst for institutional adoption or enhanced risk management?
We explain what happened and what could follow. We do not forecast prices.