BlackRock's Aladdin just integrated Ethena's $USDe.

Ethena's backing this with a $100M liquidity facility so BUIDL clients can swap tokens for stablecoins 24/7 - even outside market hours.

TradFi giants are quietly building the rails for institutional stablecoin liquidity. This isn't just a partnership - it's infrastructure.

Watch $USDe flows closely. When BlackRock moves, others follow.