Ethena Diversifies USDe Backing with Binance Equity Perpetuals

Ethena has expanded its USDe collateral strategy to include tokenized equities through a partnership with Binance.

The move pairs bStocks with equity perpetuals, creating a delta-neutral structure designed to capture funding income.

This expansion gives USDe exposure to a broader pool of potential collateral, exceeding $150 trillion in global real-world assets compared to the roughly $2.5 trillion across crypto markets.

Ethena estimates that Binance's equity perpetuals have offered stronger funding returns than major crypto markets recently, averaging near 17.5% between May 20 and August 11.