Cryptocurrency exchange Bybit announced a new partnership with Ethena Labs. Bybit will integrate Ethena Labs' synthetic US dollar, USDe, as a collateral asset in its Unified Trading Account (UTA). Users can use USDe to trade perpetual contracts for all assets and potentially earn profits while "unlocking higher capital efficiency." This integration will also increase the trading pairs of USDe with Bitcoin and Ethereum. USDe will also be available on Bybit's Earn platform, allowing users to participate in Launchpool mining using synthetic dollars.
Bybit will list USDe as a collateral asset and spot trading pair
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