Bybit, one of the world’s largest crypto exchanges, is set to boost a new Ethereum-based stablecoin called USDe. Ethena Labs, the creator of the stablecoin, announced that Bybit will integrate USDe into its platform, expanding its use beyond the current spot pair with USDT. The integration will allow Bybit users to use USDe as collateral for trading perpetual futures and earn a yield on their USD-pegged collateral. Additionally, USDe will be available as a spot trading pair for Bitcoin and Ethereum, and will be part of Bybit’s Earn program. Ethena Labs describes USDe as the first scalable synthetic dollar in the industry, backed by ETH and BTC. Since the announcement, the price of ENA, the governance token of the Ethena blockchain, has fallen by 2.8%, but is still up 9% in the past 24 hours. Investors are advised to conduct their own research and exercise caution when trading cryptocurrencies.