YZi Labs has increased its stake in Ethena to accelerate USDe stablecoin adoption across BNB Chain, exchanges and DeFi. The funding supports Ethena’s USDtb treasury-backed stablecoin and the institutional settlement layer Converge, expanding USDe’s on‑chain liquidity and cross‑platform settlement.
YZi Labs boosts Ethena to scale USDe across BNB Chain and centralized venues
Investment backs continued development of USDtb and Converge, plus integrations with new money markets and perpetuals platform Aster.
USDe market cap reached ~$14B; U.S. Treasury projects stablecoin market growth from $295B to $2T by 2028.
USDe stablecoin adoption accelerates as YZi Labs increases stake in Ethena—read how this expands USDe across BNB Chain and institutional rails.
YZi Labs has invested further into Ethena to push USDe adoption across more chains and platforms, while also assisting with the development of a new stablecoin.
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Tech-focused venture capital firm YZi Labs has increased its stake in Ethena, the issuer behind the synthetic dollar USDe, to accelerate on‑chain and centralized adoption. The investment is intended to scale USDe on BNB Chain and support Ethena’s work on a treasury‑backed stablecoin, USDtb, and an institutional settlement layer called Converge.
YZi’s statement said the move aligns with its mission to “support open, scalable digital dollar infrastructures that can serve as a backbone of efficiency and liquidity for the entire financial ecosystem.” Ethena CEO Guy Young emphasized embedding “stable, yield‑bearing assets directly into the core of the crypto economy” as central to wider distribution.
What is the strategic goal of YZi Labs’ increased stake in Ethena?
YZi Labs aims to accelerate USDe adoption by supporting Ethena’s cross‑chain deployments, ecosystem integrations, and institutional infrastructure. The funding will prioritize USDe expansion on BNB Chain, the rollout of USDtb (a short‑duration treasury‑backed stablecoin) and the development of Converge, an EVM‑compatible settlement layer for tokenized real‑world assets.
How will USDe expand on BNB Chain?
USDe’s BNB Chain expansion will add new money markets, protocol integrations, and exchange listings. Deployments will build on April’s initial launch and target DeFi protocols and centralized venues for liquidity. YZi noted active ecosystem partnerships and ongoing integrations designed to increase USDe utility beyond pure trading use cases.
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USDtb brings short‑duration treasury backing to Ethena’s product suite, addressing institutional preferences for cash‑like collateral. Converge—an EVM‑compatible settlement layer—targets tokenization and settlement workflows for real‑world assets, offering lower friction rails for institutional counterparties and on‑chain settlement between custodians and markets.
Since launch, USDe has grown rapidly in market presence. Comparative figures (approximate):
Data context: market cap figures reported by CoinGecko are cited as reference points. The U.S. Treasury in April estimated stablecoin market expansion from $295 billion to $2 trillion by 2028, indicating strong institutional and regulatory attention.
USDe’s growth to roughly $14B shows rapid adoption but still trails USDT and USDC. Ethena’s strategy—combining synthetic dollar mechanics, USDtb treasury products, and Converge rails—aims to broaden use cases and reduce reliance on a single collateral model. The outcome depends on liquidity, regulatory clarity, and integrations with exchanges and DeFi protocols.
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