Ethena Expands Access to USDe Through Integration with Solana and Adds SOL as Supporting Asset

The Block reports that Ethena Labs has announced that thanks to a new integration, users can buy and sell its USDe stablecoin on Solana. The company said in a statement that it “believes this integration with Solana will significantly increase the adoption of USDe and sUSDe, providing a whole new marketplace of traders with the bonus accumulation assets in sUSDe, thus greatly improving the traditional stablecoin experience.”

Additionally, Ethena has added SOL as a backing asset. ethena said in a statement, “In addition to enhancing the strength and security of USDe support, this will unlock an additional $2 billion to $3 billion in open positions in the SOL futures market, allowing USDe to continue to scale.” This statement added that USDe's liquidity has grown by more than $1 billion since the addition of Bitcoin as a backing asset.