MEXC Invests in Ethena Stablecoin, Fueling Competition in the USD Market

The cryptocurrency exchange MEXC has made a significant investment in Ethena’s USDe stablecoin. This move aligns with a broader strategy to boost stablecoin adoption and development within the crypto ecosystem. The $20 million investment from MEXC specifically targets Ethena’s synthetic US dollar, USDe, along with an additional $16 million for the developer team, Ethena Labs. MEXC is also launching a reward pool of $1 million to incentivize trading and staking of USDe. .