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ByBit exchange uses stablecoin USDe as collateral for transactions

Bybit Exchange is taking another step toward improving the trading experience by integrating USDe, a US dollar-backed stablecoin, as collateral for transactions and within spot trading pairs.

ByBit Exchange ByBit uses USDe stablecoin as collateral for trading operations

Bit exchange (Bybit) has taken an important step toward improving the liquidity of cryptocurrency trading by integrating USDe, a dollar-backed stablecoin from Ethena Labs, as collateral for transactions. While the exchange also plans to include this currency in spot trading pairs in the coming months.

With over 28 million users worldwide, Paybit is a trusted trading platform that delivers an exceptional trading experience to investors and traders... Digital currencies. This also allows them to benefit from the latest tools and technologies.

👈Read more: How to buy digital currencies on the Bybit platform?

Bybit wants to become an ideal and preferred destination for all traders, and the integration of USDe on the exchange allows traders to optimize the use of capital and generate returns from their virtual assets through a trading account. unified trading.

Since its inception, Ethena has managed to achieve a qualitative transformation in the digital currency scene through its digital currencies ENA and USDe. The Athena platform has become one of the fastest growing DeFi protocols thanks to its investment services.

USDe, which launched last February, saw a significant increase in trading volume. While the Athena platform has attracted deposits worth over $2 billion.

Earlier last month he revealed A study conducted by Caico Research (Search Kaiko). The emergence of innovative and yield-enhancing solutions, such as Ethena's USDe coin, could weaken Tether.

On the occasion of the new cooperation between Athena and Bybit, Hao Yang, head of financial products of the Bybit platform, spoke and explained:

“The decision to introduce Athena Labs' virtual dollar, which bears the symbol USDe, as a guarantor digital asset represents a qualitative change in the digital currency sector. We believe that Athena has an ambitious goal in mind to compete with the USDT currency. which became a giant thanks to its control of the trading pairs market on digital currency platforms. “This is the culmination of an ambitious and dynamic collaboration between fiat-backed stablecoins like USDT and crypto-native solutions like USDe.”

👈Read more: ENA price doubles in one day after launch on central stock exchanges

Furthermore, the product manager revealed in sotck exchange Drive the scholarship objectives from this stage. He also explained the importance of users having flexibility in managing their operations:

“By enabling the use of USDe through the Futures and Earn functionality of the Bybit platform, we are making the most of the demand for more diverse financial instruments that enable our 28 million users to manage and grow their investment portfolios in innovative ways. , by combining diversified risk portfolios with USDT and USDe, users of our platform can benefit from greater flexibility in how they manage their assets.

Finally, with the addition of USDe to the Bybit global platform, the platform becomes a comprehensive destination for cryptocurrency trading, offering traders a wide range of digital currencies, tools and services. This development is an important step towards a more stable and efficient future for digital currency trading.

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أخبار,Bybit,العملات الرقمية,العملات المشفرة