Deribit Partners with Ethena to Bring Rewarding USDe Collateral to Crypto Traders

Deribit, the top global exchange for crypto options and futures, is preparing to introduce Ethena’s synthetic dollar, USDe, as a margin collateral option.

Expected to roll out in early January, this addition aims to enhance Deribit’s cross-collateral pool, pending regulatory approval.

Ethena Labs expressed enthusiasm about the collaboration, highlighting that users will be able to hold USDe not only as margin collateral but also to earn rewards.

USDe is already supported as collateral on platforms like Bybit, Bitget, and Gate, offering users flexibility in deploying it across single or multi-exchange derivatives strategies.

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Guy Young, Ethena Labs’ founder, noted that integrating USDe into Deribit’s ecosystem will unlock innovative structured products not feasible with traditional stablecoin collateral.

With Deribit commanding 85% of the crypto options market, Young predicts the move will attract both traditional finance and crypto-native trading firms, expanding use cases for USDe within the derivatives market.

Alexander Stefanov