Ethena and Bybit Partner to Boost USDe with 70% APY, Zero-Fee BTC and ETH Trading

May 7, 2024, 03:18 PM

Ethena Labs has partnered with Bybit to integrate its stablecoin, USDe, into Bybit's trading platform. This integration includes using USDe as collateral for perpetual futures trading, and adding it to bitcoin (BTC) and ether (ETH) spot trading pairs with zero trading fees, as well as within the Earn platform. This strategic move aims to boost USDe's adoption and position it competitively against other stablecoins like USDT. Bybit also plans to offer a high annual percentage yield (APY) of up to 70% on USDe to attract crypto traders.