rewrite this title and make it good for SEO Ethena Partners with Binance to Bring the USDe Stablecoin to More than 280 Million Users – NFTgators

Quick take:

I will also be traded as a spot pair, exposing it to over $190 billion in assets.

Ethena seeks to provide users of the Binance platform with an earning opportunity for holding a stablecoin.

A similar deployment on Bybit in 2024 saw USDe surpass the USDC stablecoin, reaching 12% USD balances on the exchange, Ethena wrote on an X post.

Ethena, the synthetic dollar issuer, has partnered with Binance to bring the USDe stablecoin to the world’s biggest crypto exchange platform. The token will be directly integrated with Binance Earn and be available as a reward-bearing collateral for futures and perpetuals trading. Rewards will be available from the end of September.

This is part of Ethena’s strategy to disrupt the $40 billion market on Binance, which is dominated by Tether’s USDT and Circle’s USDC. The USDe issuer seeks to provide Binance users with an opportunity to earn from holding its token as compared to holding the USDT and USDC.

“Binance users will be able to earn rewards paid weekly by Binance for simply holding USDe anywhere on the exchange, including within portfolio margin on futures and perpetuals trading,” Ethena wrote on a X post.

This partnership mirrors previous deployments of Ethena on other exchanges, including Bybit. According to the announcement on Tuesday, USDe held by users on Bybit surpassed USDC in 2024 in a matter of weeks, reaching 12%, approximately $820 million, of total USD balances on the exchange.

The company expects a similar adoption rate following its latest partnership with Binance, potentially claiming $5 billion of the $40 billion stablecoin market opportunity. The USDe stablecoin will also be traded as a spot pair against the USDT on the platform, exposing it to over $190 billion in assets.

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