YZi Labs expands investment in Ethena Labs, driving USDe growth.

robot
Abstract generation in progress

YZi Labs expands investment in Ethena Labs, the project behind USDe — the third fastest growing USD-pegged crypto in history.

Support from YZi Labs will drive the next growth phase of Ethena, including the expansion of the USDe application on both centralized and decentralized platforms, expansion on the BNB Chain, and the development of new products such as USDtb ( stablecoin fiat-backed ) and Converge ( payment layer for organizations ).

Currently, USD has a supply of over 13 billion USD, becoming the third largest dollar in crypto and the fastest to surpass the 10 billion USD mark. Ethena also reached a TVL of over 13 billion USD, integrated on top centralized exchanges and major DeFi applications.

YZi Labs, a long-term strategic investor, announced that it will continue to support the development of large-scale open digital dollar infrastructure, creating liquidity and efficiency for the financial ecosystem.

Ethena expands on BNB Chain with a new currency market, protocol integration, ecosystem collaboration, and the development of USDtb alongside Converge — a payment layer that combines RWA standard TradFi on the blockchain.

Guy Young, CEO of Ethena Labs: “We are very pleased to expand our relationship with YZi Labs. USDe is being deployed on exchanges, DeFi, and globally, turning the vision of a digital dollar into reality.”

Dana Hou, Investment Partner at YZi Labs: “Ethena has become the standard for yield-generating synthetic dollars. We continue to support the Ethena team in building a sustainable and long-lasting dollar on the blockchain.”

USDE-0.06%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)