With the upcoming launch of USDe stablecoin on its platform, Bybit, the world's third-largest crypto exchange by volume, is pleased to announce the partnership of its institutional team with Ethena Labs, heralding the launching of the USDe stablecoin on its platform.
With Ethereum's synthetic dollar protocol, USDe, Ethereum offers a groundbreaking method for implementing decentralized money that is independent from traditional financial systems. USDe provides a censorship-resistant, scalable, and stable solution. By delta-hedging staked Ether (ETH) collateral on Bybit, USDe ensures full collateral support without sacrificing Ether yield.

In a bid to create a crypto-native solution to digital money, Ethena will partner with Bybit to handle a significant portion of the initial hedging flow for USDe, representing a strategic step towards creating a crypto-native solution to digital money.
USDE's introduction on Bybit also gives users the opportunity to diversify their stablecoin holdings into a crypto-native product, giving them an uncorrelated risk profile in comparison with the centralized stablecoins that currently dominate the exchange market.
Despite its commitment to providing trading infrastructure that meets the needs of large institutional players, Ethereum's assets are held by qualified custodians, demonstrating Bybit's commitment to providing trading infrastructure that meets their needs. There is no doubt that Ethena is positioned to be a transformative force in the industry due to its approach to separate custody and execution, which is similar to traditional markets, and its commitment to using off-exchange custodians to access centralized liquidity.
According to Ben Zhou, co-founder and CEO of Bybit, the collaboration with Ethena Labs represents our commitment to resolving one of the biggest challenges in crypto today, not least the creation of a decentralized stablecoin. By integrating USDe into Bybit, we are expanding our stablecoin offerings by ensuring that our users have access to a wide array of uncorrelated solutions through our Unified Trading Account.
In terms of #Bybit and #TheCryptoArk
Bybit - A brief overview
In 2018, Bybit became one of the most popular cryptocurrency exchanges in the world based on volume, with 20 million users. They offer a platform with a fast matching engine, a 24/7 customer service department, and multilingual community support for crypto investors and traders. The Oracle Red Bull Racing team is the reigning Formula One Constructors' and Drivers' champions, and Bybit is proud to be their partner.
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The source of the information is Bybit
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