Ethena plans to invest $250 million in Securitize to tokenize the AAA CLO fund to expand its RWA layout
According to The Block, Ethena Labs plans to allocate $250 million to Securitize's Tokenized AAA CLO Fund (STAC), which has been launched on Solana.
STAC is issued by Securitize in collaboration with BNY Mellon, investing in dollar-denominated AAA-rated collateralized loan obligations (CLOs), currently managing approximately $102 million, with a 7-day annualized yield of about 2.42% and a management fee of 0.3%.
Ethena's move aims to extend the collateral of USDe and USDtb from crypto-native positions to institutional-grade real-world assets, and to collaborate with institutions like Janus Henderson to include its AAA-rated CLO fund JAAA in the USDe reserve portfolio.
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