Bybit’s Integration of Ethena’s USDe Marks Significant Shift, Says Hao Yang

FinanceFeeds Editorial Team

Learn About Bybit’s Latest Integration: Enhancing Trading Efficiency with Innovative Financial Tools.

Bybit

Bybit, recognized as one of the top three global cryptocurrency exchanges by trading volume, has recently integrated Ethena Labs’ synthetic dollar, USDe, as an option for collateral in trading activities. In addition, plans are in place to introduce more USDe spot pairs in the upcoming months. This integration is set to improve capital efficiency by allowing traders to earn yields on their base assets while using Bybit’s Unified Trading Account.

Hao Yang, the head of financial products at Bybit, explained: “Integrating Ethena Labs’ synthetic dollar, USDe, as a collateral asset represents a strategic move for us. We anticipate USDe emerging as a strong contender to USDT, traditionally dominant in crypto exchange trading pairs. This positions USDe as a fresh, competitive player against both traditional finance-backed and crypto-native stablecoins.”

Yang further noted: “With USDe now enabled for use across Bybit Futures and Earn, we’re responding to our users’ needs for more flexible financial instruments. This update empowers our 28 million users to diversify how they manage and expand their portfolios.”

Bybit users now have the ability to access USDe through the Bybit Spot platform and utilize this new option across various derivatives, supported by the Unified Trading Account. This move enhances asset management flexibility, accommodating different risk preferences between USDT and USDe.

About Bybit

Bybit, established in 2018, ranks among the top three cryptocurrency exchanges worldwide in terms of volume and boasts 20 million users. The platform provides a professional environment for crypto investors and traders, featuring an ultra-fast matching engine, 24/7 customer support, and multilingual community assistance. Bybit is also the official partner of the Oracle Red Bull Racing team, the current Constructors’ and Drivers’ champions in Formula One.

For more details about Bybit, please visit Bybit Press.

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