FalconX adds support for Ethena’s USDe stablecoin

FalconX has added support for Ethena’s USDe, the third-largest stablecoin, opening the asset to its institutional client base.

Summary

• FalconX has added support for USDe stablecoin, enabling institutional trading, custody and collateral use.
• Approved clients can now access OTC liquidity for USDe.
• FalconX will also provide liquidity in both USDe and ENA across bilateral, centralized and decentralized venues.

FalconX, a U.S.-based digital asset prime brokerage that provides institutional clients with trading, derivatives, and custody services, today announced that it added support for Ethena’s synthetic stablecoin USDe. The integration equips institutional users of FalconX with the following capabilities:

• Collateralization: USDe stablecoin can now be deployed as collateral for credit extensions and derivatives exposure..
• Spot, derivatives, and custody access for Ethena USDe: Clients can now trade, hold, and manage USDe within FalconX’s full-service platform.
• OTC liquidity: Approved institutions gain over-the-counter access to USDe markets, enhancing trading flexibility.

USDe stablecoin continues to expand its footprint

Ethena’s USDe, now the third-largest stablecoin by supply, is already live across several platforms and continues to expand its footprint. In May, the Hyperliquid ecosystem added support for the token on HyperCore, HyperEVM and Unit, enabling users to trade with USDe, borrow against it through protocols such as Euler and Felix, and participate in yield-generating strategies.

Ethena’s USDe stablecoin and its yield-bearing version, sUSDe (known on the network as tsUSDe), were also recently launched on the Telegram Open Network. The rollout made both assets accessible through Telegram’s built-in wallet as well as third-party TON wallets like Tonkeeper and Tonhub, allowing users to hold and earn directly inside the messaging app.

In addition, an integration with the cross-chain protocol LI.FI allows stablecoins from more than a dozen blockchains, including USDT and USDC, to be converted into USDe stablecoin or its governance token ENA via the Ethena interface.