Ethena Labs has announced a significant expansion of its partnership with Anchorage, a move designed to offer direct rewards for its stablecoins, USDtb and USDe, without the need for staking or lockup requirements. This feature is specifically tailored for institutions operating within the regulated U.S. infrastructure.
This agreement is poised to broaden the corporate utilization of both stablecoins within a highly supervised framework. It leverages Anchorage's unique position as the sole federally chartered crypto bank, providing a trusted and compliant environment for institutional engagement.
The timing of this partnership is particularly noteworthy given recent market dynamics for Ethena. Following a depegging event in October, USDe has experienced a decline in traction. Similarly, USDtb saw a 22% decrease in its market capitalization, now hovering around $1.04 billion. Despite these fluctuations, USDtb is being positioned as a fully backed USDT-based option, with a focus on Real World Asset (RWA) integrations. In response to this news, the ENA token saw a notable increase, trading at approximately $0.289, representing a roughly 6% rise.
This strategic integration directly addresses the growing demand for regulated stablecoins within the United States. Financial institutions and corporations are increasingly seeking financial instruments that offer clear regulatory guidelines and verifiable backing, making this partnership a timely response to market needs.
Ethena Labs has strengthened its partnership with Anchorage to offer direct rewards for USDtb and USDe without staking or lockup requirements, a feature designed for institutions operating within regulated U.S. infrastructure.