Ethena Bolsters USDe with Tokenized U.S. Stocks from Binance

Ethena has expanded its USDe backing strategy to include tokenized U.S. stocks from Binance, which are used as backing assets for delta-neutral positions.

This move comes after open interest in Binance's stock perpetual contracts surpassed $2.9 billion, with a monthly compounded growth rate of 105% this year.

The strategy employs tokenized spot backing assets and stock perpetual contracts to maintain a delta-neutral position, while also utilizing offsetting derivatives for hedging exposure.