February 26, 2025
MEXC has invested $20 million in USDe, the synthetic dollar developed by Ethena Labs, as part of an effort to increase stablecoin adoption. The investment is accompanied by a separate $16 million commitment from MEXC Ventures, the exchange’s investment arm, to Ethena itself. As part of this initiative, a $1 million reward pool has been introduced to encourage engagement with USDe.
USDe is issued on Ethereum and designed to function outside of traditional financial systems. Ethena has built an infrastructure around the stablecoin, including Ethereal, a platform for spot trading, and Derive, an on-chain options protocol. These additions are intended to broaden USDe’s use cases within decentralized finance.
MEXC is also launching incentives to expand USDe’s market presence. Zero-fee trading pairs and staking options with high annual percentage returns (APR) will be available, allowing users to earn rewards while participating in stablecoin-related activities. The exchange has outlined plans to integrate USDe more broadly, offering users increased opportunities to hold and utilize the asset.
About Ethena Labs
Ethena is a DeFi platform built on Ethereum, specializing in synthetic assets. It issues USDe, a stablecoin designed to operate without reliance on centralized financial institutions. The platform’s ecosystem includes trading and derivatives tools aimed at increasing USDe’s utility in decentralized markets.
Website: https://ethena.fi/
X: @ethena_labs
About Investor
MEXC
MEXC is a cryptocurrency exchange that provides digital asset trading services to over 32 million users across 170 countries. The platform offers a variety of tokens, low trading fees, and access to decentralized finance projects. It focuses on increasing digital asset accessibility while supporting blockchain-based financial ecosystems.
Location: Victoria, Seychelles
Website: https://www.mexc.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments