Traditional asset management giant BlackRock has finally entered DeFi, and the move to integrate USDE into Aladdin is quite clever, adding another channel for institutional capital inflows.

BlackRock's Aladdin investment management platform has integrated Ethena's yield-generating synthetic dollar token, USDE. Institutions can access USDE through Aladdin for on-chain savings and settlement. The announcement caused Ethena's governance token ENA to rise about 8% on the day. Ethena stated that BlackRock's tokenized money market fund, BUIDL, will serve as the primary reserve asset for future white-label products, and the two parties also plan to establish a liquidity facility for BlackRock's tokenized products. This announcement is the latest development in the deepening cooperation between global asset management companies and decentralized finance protocols.