Ether.fi Launches Native Stablecoin, Migrates $300M in Deposits

Key Facts

1Ether.fi launched its own stablecoin, ether.fi USD, utilizing Ethena's whitelabel infrastructure.

2The platform converted more than $300 million in existing deposits into the new stablecoin.

3The new coin's backing may include assets like BlackRock's BUIDL fund via USDtb.

Ether.fi launched its own stablecoin, ether.fi USD, utilizing Ethena's whitelabel infrastructure. Investinglive.com reported that the platform converted more than $300 million in existing deposits into the new stablecoin, as crypto platforms increasingly seek to capture interest income from reserves rather than letting incumbent issuers retain it.

The new coin's backing may include assets such as BlackRock's BUIDL fund via USDtb. Regarding related asset performance, BLK closed at $1079.42 on October 6, 2026, having reached a day high of $1086.45 and a low of $1069.42.