Ethena Labs promises to publish monthly reports on the custody and reserves of its USDe stablecoin to improve transparency. The synthetic dollar issuer has issued three custodian certificates for the assets backing its $2.67 billion USDe token, backed by cryptocurrencies including Bitcoin (BTC) and Ether (ETH). 📉

According to startup defi, the Ethena stablecoin holds $1.31 billion and $1.33 billion of its reserves respectively in the Swiss company Copper Markets AG and CH Europe Digital Solution (CEFFU). The remaining assets of USDe amounting to $5.52 million are managed by Cobo Global HK Limited. Ethena Labs also has a $42.3 million emergency fund.

The triple attest, published on May 27, claimed that USDe had a collateralization ratio of 101.74%, meaning the asset was re-collateralized and could provide repayment if each user chose to liquidate it, according to the issuer.