On June 2, Ethena announced a partnership with Coinbase to develop on-chain financial and savings products for Coinbase's 100+ million users. Protocol integration has begun, with the first growth campaign launching next week.
Ethena's USDe stablecoin, backed by a delta-neutral strategy, has amassed billions in supply, making it a DeFi staple. Coinbase, the largest U.S. regulated exchange, offers a vast user base that can accelerate mainstream DeFi adoption.
Coinbase Ventures also completed its first open-market ENA purchase, reinforcing the partnership. The integration of Ethena's yield products into Coinbase will bring on-chain savings and lending to a massive audience, further bridging traditional and decentralized finance.
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