Ethena Labs adds bitcoin as USDe backing asset Ethena Labs ha | Crypto Futures Trading
Ethena Labs adds bitcoin as USDe backing asset
Ethena Labs has added bitcoin as a backing asset for its USDe synthetic dollar, as traders embrace a resurgence in the world’s oldest digital asset. The decentralized finance (DeFi) protocol said Thursday in a series of posts on X that backing USDe with bitcoin will enable its dollar-pegged token to scale by a factor of more than 2.5, as well as make its products safer for traders. The move comes as bitcoin derivative markets outpace their ether-based equivalents.
