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4h ago

YZi Labs Boosts Ethena Stake as USDe Supply Tops $13 Billion

The new backing signals a push for broader exchange access with an institutional tilt.

YZi Labs expands stake in Ethena as USDe surges past $13b

Overview

  • YZi Labs said on Sept. 19 it increased its investment in Ethena to speed exchange integrations, expand on BNB Chain, and advance new products.
  • Recent reporting cites more than $13 billion USDe in circulation and total value locked around $14 billion, underscoring rapid adoption across CEX and DeFi.
  • Capital is earmarked for USDtb, a fiat‑backed stablecoin pursuing GENIUS compliance, and Converge, an institutional settlement layer being developed with Securitize and BlackRock tokenization partners.
  • The move comes after Binance added USDe across several services, broadening on‑ and off‑ramp options and reinforcing distribution momentum.
  • Coverage highlights operational, liquidity and regulatory risks inherent in USDe’s hedging‑based design as scale increases and institutional channels open.