Bybit Revolutionizes USDe Accessibility with Seamless On-Chain Mint and Redeem Functionality

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced a groundbreaking enhancement to its On-Chain Earn product.

Dubai, UAE, March 12th, 2025, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange, is thrilled to announce a groundbreaking enhancement to its On-Chain Earn product. Since recently, users can now seamlessly mint and redeem USDe directly through Bybit On-Chain Earn. This update makes Bybit the first exchange to offer a USDe minting solution without whitelist restrictions, significantly improving liquidity and accessibility for USDe within its ecosystem.

“By enabling direct USDe minting and redemption through Bybit On-Chain Earn, we’re revolutionizing stablecoin accessibility and liquidity. Users can now seamlessly convert between USDe, USDT, and USDC without the traditional barriers, making it easier than ever to earn high yields effortlessly. This move underscores Bybit’s commitment to innovation and providing users with cutting-edge financial solutions in the crypto space,” said Jerry Li, Head of Earn & Wealth Management at Bybit.

Unlocking the Potential of USDe

USDe, developed by Ethena, is a synthetic dollar backed by crypto assets and hedged through short futures positions. It provides a stable alternative with yield potential in the digital asset market, appealing to users seeking secure yet lucrative financial instruments.

Previously, Bybit users could only acquire USDe through spot trading, Convert, or external minting via Ethena – the latter being restricted to whitelisted users. Bybit’s new On-Chain Earn functionality eliminates these barriers, providing an open-access USDe minting and redemption solution for all users.

USDe Minting and Redemption: A Seamless Experience

With this latest feature, Bybit On-Chain Earn users can now:

Why Bybit’s USDe Minting and Redemption Matters

Bybit On-Chain Earn offers a superior user experience compared to traditional minting methods, with several key advantages:

Bybit’s introduction of unrestricted USDe minting and redemption represents a major milestone for the stablecoin ecosystem. By removing entry barriers and enhancing liquidity, the exchange continues to solidify its position as a leader in the digital asset industry, offering innovative solutions that empower users worldwide.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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