The stablecoin USDe from Ethena has been officially added to the Binance platform, marking a significant step for this asset.
Launch of USDe Trading
Binance announced the launch of trading for Ethena's USDe stablecoin on September 9 at 12:00 UTC. The withdrawal feature became available to users the next day. This move strengthens Binance's stablecoin offering by providing access to a rapidly growing asset.
USDe's Market Breakthrough
USDe has rapidly ascended to become the third-largest dollar-pegged crypto asset, circulating over $12 billion. Unlike fiat-backed stablecoins, USDe is collateralized by a mix of crypto assets such as Bitcoin and Ethereum, along with conventional stablecoins. Ethena's total value locked (TVL) exceeds $14 billion, indicating significant interest in this asset.
Rewards for USDe Holders
To encourage the adoption of USDe, Binance is rolling out a reward program for users of this asset. Holders maintaining a minimum balance of 0.01 USDe will be eligible for rewards. The first payouts are scheduled for the end of September, followed by weekly disbursements. However, participation in the program will be restricted for users in the U.S., Canada, the EU, and Japan due to regulatory barriers, requiring full account verification.
The addition of USDe to Binance highlights the growing diversity of stablecoins in the market, offering traders access to assets that are independent of traditional fiat currencies.
