Tokenized funds move onchain around the clock, but redemptions still wait for banking hours. Securitize and Ethena Labs have now switched on a liquidity facility for BlackRock's BUIDL fund that lets eligible investors swap BUIDL for stablecoins, including USDC, and back again outside traditional market hours.

The facility starts with $50M in liquidity ($25M in USDC and $25M in BUIDL), with another $50M available within an hour as it is used, for $100M in total capacity.

The launch delivers on a framework first announced in June as part of an expanded Ethena and BlackRock collaboration. Ethena supports the facility, while Securitize operates it. BUIDL also backs most of USDtb, Ethena's digital dollar product.

The facility is aimed at weekend liquidity for institutions, though availability and amounts are not guaranteed and terms can be changed or suspended.