Ethena Labs has partnered with Bybit, the third largest offshore exchange, to integrate its USDe stablecoin as a collateral asset on Bybit's platform. This collaboration aims to enhance USDe's utility by including it in bitcoin and ether spot trading pairs with zero fees, and as a collateral for perpetual futures trading. Additionally, USDe will be featured on Bybit's Earn platform, potentially offering up to 70% annual percentage yield (APY) on collateral. Following the announcement, Ethena's governance token jumped 8%. This strategic move is seen as a significant step for USDe in competing with other major stablecoins like USDT.
.@Ethena_labs's governance token jumped 8% after crypto exchange Bybit endorsed the protocol's USDe token as a collateral for perpetuals trading. @sndr_krisztian reports https://t.co/eINszo02sP
🔥 @ethena_labs keeps making moves Bybit is integrating USDe as a collateral asset, along with pairing it for zero-fee trading with BTC and ETH pairs. Who's gonna win the stablecoins wars? Like for USDe, comment for USDT or USDC. Read more: https://t.co/FfuPmqbJQC
USDe will be integrated into Bybit, the third largest offshore exchange, including USDe as a collateral asset to trade perpetual futures, BTC and ETH - USDe zero-fee spot pairs, USDe launch within the Bybit’s “Earn” platform. https://t.co/R65yrgL1Li
Ethena Labs has collaborated with Bybit to integrate USDe as a collateral asset for perpetual futures trading and add new spot trading pairs https://t.co/sSgRRlCfnj
Ethena and Bybit Partner, Target 70% APY with USDe in Crypto Trading Read More: https://t.co/HFfOw4QAay
Don’t think ppl realise how bullish this is for both Ethena and Bybit. It’s basically a joint vampire attack on all their competitors If you're trading on any other exchange w/ stablecoin margin, why not move to USDe on Bybit and earn ~70% APY on your collateral? https://t.co/p4Rd1HQPnX
“Stablecoins are the US Dollar plus SWIFT for non-banks.” -@sytaylor https://t.co/pQRitUL9xM
Huge for @ethena_labs and USDe. USDe needs to be collateral & trading pairs on tier 1 CEXs if it is really going to compete as a major stablecoin. They've got that first CEX onboard. https://t.co/sj8kQhNr4C
Excited to share one of the most important developments for USDe adoption to date USDe will be integrated into @Bybit_Official: i) Collateral to trade perpetuals while potentially capturing yield ii) BTC and ETH spot pairs with zero trading fees iii) Within the Earn platform https://t.co/zDDO2WdeNf
BREAKING: Ethena Partners With Bybit. Will It Catalyze USDe’s Growth? Bybit will accept USDe as collateral on its platform, aiming to grab market share from USDT and offer yield to crypto traders. https://t.co/B3CU3iaMn4
THE BLOCK: Bybit to integrate Ethena Labs' USDe as a collateral asset, and in bitcoin and ether spot trading pairs https://t.co/iVl4oOL7kW
Bybit to integrate Ethena Labs' USDe as a collateral asset, and in bitcoin and ether spot trading pairs https://t.co/sZyOojYNrj