USDtb (USDTB) - Fundamental Analysis July 2026

USDtb is Ethena Labs' reserve-backed stablecoin, launched December 2024 and backed by BlackRock's BUIDL fund, now under federal oversight. • USDtb trades at $0.999642 with a $735.85M market cap, ranking 82nd (July 2026) • Backed >90% by BlackRock's BUIDL tokenized Treasury fund, with 24/7 atomic swaps enabled June 2025 • Issued under Anchorage Digital Bank as America's first GENIUS-compliant, OCC-supervised stablecoin (October 2025) • Integrated across Aave, Morpho, Euler, and Fluid for DeFi lending and collateral • Serves as a conservative reserve asset complementing Ethena's yield-oriented USDe synthetic dollar