Ethena’s USD-backed Stablecoin Launches on Binance, Boasting $12 Billion in Supply

Binance is set to launch Ethena’s USDe stablecoin (USD-based) for trading, with USDT and USDC pairs listed from 12:00 UTC on September 1st. Deposits are already live, followed by withdrawals the next day. Binance has waived its BNB fees during this initial phase to encourage adoption. Ethena’s USDDe is poised to be a major player in the stablecoin market, with over $12 billion in supply currently – making it third largest stablecoin after USDT and USDC.