The cryptocurrency exchange Bitget has announced the implementation of the USDe stablecoin from Ethena Labs as margin collateral for Coin-M contracts, representatives of the company told Incrypted.

The press release states that the introduction of a new, reliable stablecoin will significantly expand trading opportunities and provide users with a universal trading experience. The team emphasized that Coin-M futures support multiple currencies as margin for over 230 trading pairs on the Bitget platform.

Ethena allows for the creation and redemption of the delta-neutral synthetic dollar USDe. According to the press release, the mechanism supporting USDe creates the first of its kind "internet bond," offering a cryptocurrency instrument denominated in dollars. This instrument provides value accumulation based on the yield of assets in staking, as well as funding and the underlying spread available in perpetual and futures markets.

The announcement also notes that USDe has become the seventh coin, alongside Bitcoin, Ethereum, USDC, XRP, BGB, and STETH, which can be used as margin for Coin-M contracts.

The Bitget team added that the integration of USDe provides exchange users with numerous advantages. In particular, traders will be able to apply trading strategies tailored to individual requirements. Using USDe as margin helps to enhance capital efficiency, optimizing asset allocation for improved financial control.

To use USDe as margin for Coin-M contracts, users need to follow several steps. After transferring USDe to the Coin-M contract account, they can go to the contract trading interface, select a currency pair, set the leverage, and start trading.

Furthermore, the press release mentions that users can place buy or sell orders, monitor positions and market conditions using stop-loss and take-profit orders, as well as orders to manage risks and ensure profits. When a trade reaches the desired profit or loss range, users can close the position at the market price or a pre-set price limit, the Bitget team explained.

The exchange's CEO, Gracy Chen, noted that Bitget strives to provide users with world-class trading resources, including market information and access to DeFi. In just one year since the appearance of USDe, it has accounted for about 3% of the stablecoin market, demonstrating the potential of well-designed mechanisms. Chen emphasized that Bitget will continue to support and collaborate with innovative crypto projects, aiming to provide users with the most advanced solutions.