Update
Ondo Finance Becomes First Crypto Protocol to Use BlackRock's BUIDL Fund
Ondo Finance, a real-world assets (RWA) protocol, has become the first crypto protocol to use BlackRock’s BUIDL fund as collateral. This move enabled round-the-clock subscriptions and redemptions, expanding access to institutional-grade financial products. The project also offers two key offerings: OUSG, a yield-bearing digital dollar backed by US Treasuries and bank deposits, and USDY, a yield-bearing digital dollar for non-US users. Ethena, a unique USDe stablecoin protocol, has generated over $290 million in cumulative revenue since launch, despite a decline in USDe supply. The protocol combines spot assets with short perpetual positions to maintain the dollar peg and generate yield opportunities. Jupiter, a leading DEX aggregator on Solana, has expanded beyond simple trade aggregation, controlling nearly 95% of the DEX aggregator market and handling more than half of all DEX trading volume. The platform has launched JupUSD, a stablecoin backed partly by BlackRock-linked assets, and partnerships with Securitize and Jump Trading to access regulated trading for tokenized equities.