Bitget Strengthens Partnership with Ethena Labs by Supporting USDe in Earn Offerings and Futures Collateral

Bitget is the world's leading cryptocurrency exchange and Web3 company.

Cryptocurrency exchange Bitget has expanded its partnership with Ethena, a synthetic dollar protocol on the Ethereum blockchain, to integrate USDe into Bitget Savings and Coin-Margined (Coin-M) Contracts.

Created by Ethena Labs, USDe is a synthetic dollar designed to be a censorship-resistant, stable, and scalable digital asset. Since its launch, USDe's supply has surged to over 3.5 billion, with over 215,000 users. This rapid growth in supply and user adoption marks a significant milestone for USDe in the digital currency landscape.

With this new integration, Bitget users can now utilize USDe as a collateral asset to trade coin-margined perpetual futures or as a savings product, both offering an attractive 15% APR. Additionally, Earn product users will have the opportunity to use USDe for both fixed and flexible savings subscriptions, each up to $200,000, opening up possibilities for substantial interest gains.

This partnership also broadens the spectrum of trading strategies available to cater to the diverse needs of every Bitget user. Using USDe as yielding margin collateral or through savings greatly enhances capital efficiency by enabling users to derive a different return profile for their assets. Bitget users are the first in the industry to benefit by potentially receiving a yield from their stable derivatives margin collateral.

Bitget Savings is a product within the Bitget Earn suite, designed to mirror savings products in traditional finance. It serves as a backstop against the uncertainties and volatility inherent in crypto, offering a low-risk financial product akin to traditional savings, tailored for the crypto market with Fixed Savings and Flexible Savings.

“Our decision to team up with Ethena was driven by their pioneering approach to creating scalable, censorship-resistant synthetic dollars, which aligns perfectly with our mission to provide our users with reliable and cutting-edge financial solutions. Bitget is set to enhance its multifaceted collaborations with Web3 innovative projects, further bolstering the Bitget ecosystem. This initiative underscores Bitget’s commitment to investing in and developing a robust ecosystem as part of its long-term strategic vision,” said Gracy Chen, CEO at Bitget.

“Ethena’s integration with Bitget marks another significant step forward in expanding access to USDe and creating new use cases for the asset,” said Guy Young, CEO and Founder of Ethena Labs. “From saving to collateral, if traders are using any stable asset in lieu of USDe for essentially any function, they are missing out on substantial value – and in continuing to form partnerships with the world’s largest exchanges, our goal is to ensure that no trader has to forgo that value any longer.”

For more information on USDe trading on Bitget, please visit the official website page.

About BitgetEstablished in 2018, Bitget is a world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, Bitget is dedicated to helping users trade smarter with its flagship copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more info, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

About Ethena LabsFounded in 2023, Ethena Labs is a research, development, and engineering firm building infrastructure supporting the first-ever scalable synthetic dollar (USDe) and a value-accruing “Internet Bond.” The firm is backed by Dragonfly Capital, Arthur Hayes’ family office Maelstrom, and every major crypto futures exchange including incubation from Binance Labs, Bybit, OKX, Deribit, Kraken, Gemini, and other leading investment firms including Franklin Templeton, a venture fund of Fidelity Investments, and Brevan Howard Digital. The Ethena Labs team brings deep experience from both traditional finance and crypto, including from Cerberus, Wintermute, Flow Traders, Paradigm, Deribit, Lido, and Goldman Sachs.

For more information, visit the official website.