Bybit incorporates Ethena Labs’ USDe as trading collateral, enhancing capital efficiency for traders. The integration allows users to earn yields on their base assets while trading through Bybit’s Unified Trading Account, as it shared with CoinFactiva today.
The significance of Ethena Labs’ synthetic dollar is highlighted by Hao Yang, Bybit’s head of financial products, who describes it as a game-changer. Yang emphasizes that integrating USDe as a collateral asset positions it as a competitor to USDT, offering a dynamic dualism between traditional finance-backed stablecoins and crypto-native solutions like USDe.
By enabling USDe for use in Bybit Futures and Earn, the platform aims to meet the demand for versatile financial tools, empowering its 28 million users to manage and grow their portfolios innovatively.
Combining the different risk profiles of Tether (USDT) and USDe provides Bybit users with increased flexibility in asset management. The integration also grants access to USDe through Bybit’s Spot trading, with plans to list additional USDe spot pairs in the future, expanding trading options for users.
