Ethereum

Bitcoin

USDe

Ethena

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bybit-integrates-usde-as-a-collateral-asset-on-its-platform/" data-wpel-link="internal">Bybit Integrates USDe as a Collateral Asset on Its Platform</a><br></p>
<p style="text-align: justify">Leading cryptocurrency exchange Bybit has announced it will integrate Ethena Labs’ synthetic dollar USDe (USDE) as a collateral asset on its platform. The cryptocurrency exchange will also list USDe in spot trading pairs with Bitcoin (BTC) and <a href="https://en.coin-turk.com/important-development-ethereum-co-founder-vitalik-buterin-transfers-3000-eth-worth-4-95-million/" data-wpel-link="internal">Ethereum</a> (ETH).</p> 
<h2 style="text-align: justify" id="strong-integration-of-usde-into-bybit-exchange-strong"><strong>Integration of USDe into Bybit Exchange</strong></h2> 
<p style="text-align: justify">Ethena Labs has established a new partnership with cryptocurrency exchange Bybit to integrate USDe as a collateral asset for all assets in Bybit’s UTA for perpetual futures trading. This partnership will potentially offer users higher returns and unlock more capital efficiency.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-348707" src="https://coin-turk.com/wp-content/uploads/2024/05/Altcoin-Bybit-Borsasi.png" alt="" width="2350" height="1460"></p> 
<p style="text-align: justify">The press release also stated that the integration includes adding USDe trading pairs against Bitcoin and Ethereum in the spot <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> of the cryptocurrency exchange. USDe will also start being used on Bybit’s Earn platform, allowing users to invest their synthetic dollars in projects on Bybit Launchpool.</p> 
<p style="text-align: justify">Guy Young, CEO and founder of Ethena Labs, stated, “Ethena’s integration with Bybit is a significant step in expanding the use of USDe. Offering USDe as a collateral asset on Bybit, one of the most important derivative platforms in the crypto industry, will unlock the next growth wave for USDe. This integration marks a significant step in challenging the existing stablecoin hegemony with a product specifically designed for crypto natives.”</p> 
<h2 style="text-align: justify" id="strong-the-first-scalable-synthetic-dollar-strong"><strong>The First Scalable Synthetic Dollar</strong></h2> 
<p style="text-align: justify">USDe is a stablecoin supported by Ethena Labs, touted as the “first scalable synthetic dollar.” The stablecoin aims to index the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> of the targeted asset to the US dollar at a 1:1 ratio.</p> 
<p style="text-align: justify">As known, last month, Ethena Labs distributed its main network asset, Ethena (ENA), to eligible users via AirDrop and then began holding BTC as a reserve asset for USDe.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bybit-integrates-usde-as-a-collateral-asset-on-its-platform/" data-wpel-link="internal">Bybit Integrates USDe as a Collateral Asset on Its Platform</a></h5>

Bybit Integrates USDe as a Collateral Asset on Its Platform

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