Securitize and Ethena Labs launched a $100 million liquidity facility for BlackRock’s BUIDL fund on November 12. Eligible investors can exchange fund tokens for supported stablecoins, including USDC, outside regular market hours. The service also supports conversions back into BUIDL.
Table of Contents
Securitize manages the center, whereas Ethena supports the center with liquidity services. The objective behind the center is to facilitate investors in obtaining money when the banks are shut down. Both the firms unveiled the center after their detailed plans in June.
How Securitize Funds the $100M Facility
Securitize provided $50 million in starting liquidity for two different assets. The initial liquidity is comprised of $25 million in USDC and an additional $25 million in BUIDL. Participants can trade between the assets using the new product.
Additional $50 million becomes available after one hour as a result of trading from the initial liquidity pool. According to Securitize, the amount of additional liquidity available is subject to terms of the facility, capacity, and availability.
The maximum capacity of $100 million of the facility does not mean the presence of that amount in cash or stablecoin. Initial liquidity of USDC is $25 million, while additional liquidity in the form of tokens of the fund is $75 million. However, the company did not state that all the requested trades will be completed instantly.
The risk disclosure mentions risks associated with third parties, stablecoins, BUIDL, and blockchains. Changes in the terms of the facility and suspension or termination of the facility are among these risks.
What Weekend Liquidity Means for BUIDL Holders
The launch of BUIDL by BlackRock was completed in March 2024, and it was a tokenized investment fund. Cash, U.S. Treasury securities, and repurchase agreements make up its investment portfolio. Blockchain tokens reflect ownership of fund shares by authorized investors.
The blockchain tokens can travel through the supported networks outside normal banking hours. Nevertheless, cash settlement is done through financial institutions with regular operating schedules. The new facility offers an alternative channel between BUIDL and stablecoins.
According to Securitize, such a combination is meant to solve this time difference problem. According to the founder of Ethena, Guy Young, institutional liquidity should be able to match digital assets that operate 24/7. He called it a bridging of blockchain marketplaces and traditional finance.
At the time of writing, RWA.xyz evaluated BUIDL at approximately $1.66 billion in worth. As per this figure, the maximum liquidity facility size is 6% of the fund worth. In comparison, the initial USDC balance is 1.5% of it.
Source: RWA.xyz
While the fund value may vary, the liquidity facility has the possibility to replenish liquidity. The calculations did not take into account any additional trading/redeeming options.
Investor onboarding is required in BUIDL in order to be allowed to own fund shares. At the moment, according to RWA.xyz, U.S. qualified purchasers are among the investors who have access.
Securitize Builds on Earlier Ethena and Uniswap Deals
This is after an agreement made between BlackRock and Ethena in June 2026. This agreement was announcing the same $100 million facility, as well as an increase in support of the products by Ethena via the Aladdin platform of BlackRock. The November news announcement is confirming that the facility has gone live.
Previously in June 2025, Securitize and Ethena had facilitated swaps between BUIDL and USDtb. This swap was allowing qualified, onboarded traders to exchange their BUIDL tokens for Ethena’s stablecoin using a smart contract. USDtb uses BUIDL as one of the main assets held in its reserves.
In February 2026, Securitize entered into a partnership with Uniswap Labs, offering another trading avenue. In UniswapX integration, it enables the qualified BUIDL investors to trade with selected liquidity providers like Flowdesk, Tokka Labs, and Wintermute using a request for quote method and on-chain settlement.
The company announced an agreement in November 2025 for qualified traders of Binance to use BUIDL for off-exchange collateralization services. In this case, the trading positions are facilitated, not the stablecoin conversion.
Also Read: Uniswap Expands Into Hyperliquid With V2, V3 and V4 on Elysium
Arslan Tabish is a Technical Reporter and Market Analyst at Tron Weekly with over five years of experience covering cryptocurrency markets and blockchain developments. His reporting focuses on Bitcoin, Ethereum, altcoins, and decentralized finance, alongside NFTs, crypto regulation, policy, and Web3 innovations.
Arslan covers blockchain technology, Layer 2 scaling solutions, and emerging use cases, including AI-driven crypto applications, while delivering clear market analysis on how technical and regulatory developments impact digital asset markets. His work is designed for both beginners and experienced readers, offering accurate, easy-to-understand reporting without speculation or investment guidance.
