USDe Tops $4.5B, Binance and Robinhood Fuel Ethena's Growth

Ethena's USDe has reached a significant milestone in circulation, exceeding $4.5 billion, according to the project details. This growth has sparked fresh attention to ENA, with large platforms like Binance and Robinhood expanding access to Ethena products.

USDe is a dollar-linked crypto product that offers yield to holders without requiring a traditional bank account. The project's reserve structure remains central to user trust, with most backing held in liquid cash at 101%.

Binance has added USDe across its platform, serving 280 million users worldwide. Robinhood also selected Ethena to support its first crypto Earn product, demonstrating growing interest in yield products tied to digital assets.

Meanwhile, Anchorage Digital issues Ethena's USDtb stablecoin, which is backed largely by BlackRock's tokenized Treasury fund. This gives USDtb a link to regulated financial infrastructure and has contributed to the growth of tokenized Treasury products within the digital asset market.