Securitize Corp. and Ethena Labs announced on November 12, 2026, the launch of a 24/7 liquidity facility with a maximum capacity of $100 million for BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), enabling eligible investors to exchange between BUIDL and stablecoins outside traditional market hours.

Key Highlights

  • Maximum capacity: The facility provides up to $100 million in liquidity capacity, described by the filing as the maximum, "not the amount continuously funded or immediately available."
  • Initial liquidity: The facility launches with $50 million, comprising $25 million in USDC and $25 million in BUIDL.
  • Replenishment mechanism: An additional $50 million can be made available within approximately one hour, subject to facility terms, capacity, and availability.
  • Supported assets: Eligible investors may exchange BUIDL for supported stablecoins, including USDC, or convert stablecoins back into BUIDL, outside traditional market hours.
  • Existing collaboration: The launch builds on the companies' prior work around BUIDL and USDtb, Ethena's digital dollar product backed primarily by BUIDL.
  • Platform scale: According to the filing, Securitize has approximately $5 billion in assets under management as of September 2026.

BUIDL Liquidity Facility: Structure, Access, and Collaboration Details

According to the announcement, the facility was operated through Securitize (NYSE:SECZ) and supported by Ethena Labs. The release states it delivers on a previously announced liquidity facility framework unveiled in June as part of an expanded collaboration between the two companies and BlackRock. The facility is structured to allow eligible investors to access liquidity over weekends without waiting for traditional markets to reopen.

The filing describes the facility's two-tier funding structure. At launch, $50 million in initial liquidity is available, split evenly between USDC and BUIDL at $25 million each. The filing specifies that references to a "$100 million facility" describe its maximum capacity only, with up to an additional $50 million potentially made available within approximately one hour, subject to facility terms, capacity, and availability.

Carlos Domingo, Co-Founder and CEO of Securitize, is quoted in the release stating: "With this facility now live, we're taking another step toward a financial system where institutional investors can access liquidity when they need it, not just when traditional markets are open." Guy Young, Founder of Ethena Labs, stated: "By bringing this facility online with Securitize, we're helping close the gap between traditional market hours and the always-on nature of blockchain markets." The filing notes that the press release contains forward-looking statements subject to risks, including that the facility "may not be available at all times or in the amounts described" and that additional liquidity "may not be made available when expected or at all."

What Was Disclosed

Securitize Corp. and Ethena Labs disclosed the November 12, 2026 launch of a 24/7 BUIDL liquidity facility with a maximum capacity of $100 million, initially funded with $50 million in USDC and BUIDL, designed to provide stablecoin exchange access for eligible investors outside traditional market hours.