Ethena Labs' USDe Launches as Margin Collateral on Bybit at 20% APR

Ethena Labs' USDe is being rolled out as margin collateral for cryptocurrency exchange Bybit, according to Cointelegraph.The new integration will launch USDe as margin collateral for traders with an annual percentage rate (APR) of 20 percent.Ben Zhou, co-founder and chief executive officer of Bybit, said that for traders on Bybit For traders on Bybit, this will increase the efficiency and flexibility of their trading strategies,” said Ben Zhou, Co-Founder and CEO of Bybit. ”By utilizing USDe, traders can now benefit from a unique combination of stability and potential gains as they manage collateral. For Bybit users, this means access to multiple stablecoin options, including crypto-native solutions like USDe.”

Guy Young, Founder of Ethena Labs, explained that the new integration will also enable Bybit users to receive rewards for their collateral.Young stated, “For the first time, users will be able to benefit from the potential rewards and value accrued from their collateral when trading on Bybit. This can be used to offset the cost of financing their positions and capture more value for users.”