Bitget Expands Coin-Margined Contract with Integration of Ethena’s Synthetic USDe

By The Crypto Times
about 2 months ago

Bitget, the world’s leading cryptocurrency exchange, announced today the integration of Ethena Labs’ synthetic USDe as a new margin option for coin-margined contracts. This integration offers users a wider range of trading strategies and a more versatile trading experience.

Previously, Bitget’s coin-margined futures supported multiple currencies as margins for over 230 trading pairs. Now, with USDe’s inclusion, users have access to a secure, synthetic dollar as an additional margin option.

USDe empowers users to deploy a broader range of trading strategies, catering to individual needs. and improve capital efficiency. USDe offers users a more stable and convenient trading environment with increased flexibility.

Gracy Chen, CEO of Bitget, commented, “Just one year ago, USDe didn’t exist, yet it now holds approximately 3% of the supply in Stablecoins. This impressive growth demonstrates the potential of well-designed mechanisms, and we are excited to continue supporting and partnering with innovative crypto-native projects”

USDe has been experiencing a surge in popularity lately due to its ability to generate high annual returns for investors. The Ethena protocol added Bitcoin as collateral in April, allowing them to create more USDe tokens. This move has been successful, with Ethena’s total locked-up value (TVL) exceeding $3 billion, according to DefiLlama.

Bitget remains dedicated to continuous innovation and optimization, providing users with efficient and accessible trading services. This integration addresses the demand for more flexible derivatives products, empowering users to manage and diversify portfolios with cutting-edge technologies like AI in trading.

Also Read: Ethena Labs Unveils Triple Attestation for USDe Reserves

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