“Backing Will Fund Expansion On BNB Chain, Fiat-Backed Stablecoin USDTB, and Settlement Layer Converge.”, – WRITE: www.coindesk.com
The Investment Comes as Ehena Enters A New Stage of Growth, Whosh Includes Extending ITS FOOTPRINT ON BNB CHAIN. This Includes Rolling Out Products Designed to Bridge Crypto and Traditional Finance, Such As USDTB, A Fiat-Backed StableCoin in Development, An Institute, An Institute Securitize and Partners Connected to Blackrock.
USDE, Marketed As A “Synthetic Dollar,” Uses Bitcoin BTC, Ether (ETH) and Solana’s Sol (Sol) As Backing Assets, Paaing Them with An Equal of Short PerPetues $ 1 PEG.
Launched Less than Two Years Ago, The Synthetic Dollar Crossed The $ 10 Billion Supply Milestone Faster Than Any Other Dollar-PEGGED CRYPTO Asset.
“SINCE OUR INVESTMENT TEAM FIRST MET GUY [Young] In Late 2023, Ethena Has Become The Category Definer for Yield-Bearing Synthetic Dollars, ”SAID DANA HOU, Investment Partner at Yzi Labs.
For USers, The Developments Mean More Options for Holding and Using Digital Dollars Across Centralized Exchanges and Decentralized Finance Protocoles. For Institutions, Products Like Converge Aim to Create A Familiar Settlement Layer for Tokenized Assets, Potentilly Broadening Adoption on-Chain Financial Infrastrukre.
Read More: Ethena’s USDE OUTPACES Blackrock’s Bitcoin, Ether Etfs with $ 3.1b Inflow Surge
With Increase Regulatory Clarity, 54% of Firms in the Survey Said they Plan to Adpt Stablecoins with the Next Year.
- Stablecoin Adoption is IncreASING Among Companies Due to Regulatory Clarity and Cost Savings in Global Transfers, Accounting To A Survey by Ey-Parthenon.
- The Genius Act, The Us Stablecoin Regulation Sigrated Into Law in July, Is Seen As a Key Driver of Adoption.
- Stablecoins Could Facilitis 5% to 10% of All Cross-Border Payments by 2030, ValUED AT $ 2.1 Trillion to $ 4.2 Trillion, The Report Said.
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