Bybit to integrate Ethena Labs' USDe as a collateral asset, and in bitcoin and ether spot trading pairs

Quick Take

  • Bybit is integrating Ethena Labs’ synthetic dollar, USDe, as a collateral asset and in spot trading pairs for bitcoin and ether.

Ethena has announced a new partnership with crypto exchange Bybit to integrate USDe as a collateral asset to trade perpetual futures of all assets in the exchange's UTA — potentially providing users with the ability to earn yield and "unlock greater capital efficiency."

The integration will also see the addition of bitcoin and ether spot trading pairs with USDe, according to a press release.

USDe will also launch within the exchange's Earn platform, and users will be able to use their synthetic dollars for Bybit launchpool farming.


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Ethena’s integration with Bybit is a significant step in driving use cases for USDe,” Guy Young, CEO and founder of Ethena Labs, said. 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," they added.

USDe is a stablecoin supported and billed by Ethena Labs as being "the first-ever scalable synthetic dollar." Last month, the organization added bitcoin as a backing asset for USDe after airdropping its governance token, ENA, to eligible users.

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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Before joining the blockchain and crypto industry, he worked for, and He tweets via @XBT002 and can be emailed at [email protected].