Ethena Expands USDe Collateral with Binance Equity Perpetuals

Ethena Partners With Binance to Expand USDe's Collateral Basis

The DeFi protocol Ethena is breaking into tokenized equities with a partnership that leverages stock trading on Binance.

USDe, a synthetic dollar backed by a hedged trade of crypto perpetuals and spot assets, will now be supported by equity perpetuals from Binance's exchange.

This move expands the collateral backing USDe from $2.5 trillion in traditional stocks to include tokenized U.S. equities, which reached $100 million in assets within two weeks of their June launch on Binance.

Ethena expects the market opportunity for equity perpetuals to exceed that of crypto perpetuals, citing an average annualized basis of 11% over the past six months on Binance's exchange.