Crypto News – Bybit-Ethena Partnership to Integrate Collateral Asset USDe into Spot Trading Pairs
Crypto News – In order to trade perpetual futures of all assets in the exchange’s UTA, Ethena and Bybit have launched a new cooperation that would integrate USDe as a collateral asset. This might allow users to trade at a profit and “unlock greater capital efficiency.”
According to a press release, the integration will also include spot trading pairings for ether and bitcoin using USDe. Additionally, USDe will become live on the exchange’s Earn platform, enabling customers to farm Bybit launchpools with their synthetic dollars.
Ethena’s integration with Bybit is a significant step in driving use cases for USDe. Offering USDe as collateral on Bybit which is one of the most important derivative venues in all of crypto will unlock USDe’s next wave of growth, further challenging the existing stablecoin hegemony with a tailored product purpose-built for crypto-natives,
Guy Young, CEO and founder of Ethena Labs
FAQ
What Does it Mean to Farm in Crypto?
Yield farming is a method that enterprising people can use to optimize their returns on crypto asset holdings, as opposed to just keeping them.
What is a Collateral Asset in Crypto?
Collateral is the cryptocurrency asset pledged by the borrower as assurance that the loan will be repaid in the context of crypto-backed lending.
What is Ethena Labs?
Operating as a financial technology company, Ethena Labs provides services to clients in the US. In order to turn Ethereum become the first stable coin that isn’t dependent on the financial system, the company provides derivative infrastructure.
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