Wintermute has announced that it will now accept USDe, a stablecoin backed by cryptocurrency, as collateral for spot crypto and derivatives trades. This move allows Wintermute's clients to use USDe for options, credit default swaps, forward, and spot trading. USDe joins Wintermute's list of accepted crypto collaterals, which includes Bitcoin, Ether, Solana, and US Dollar Coin. The use of stablecoins, tied to US dollar-denominated assets, is becoming increasingly important in trading and payments. The total market capitalization of stablecoins has reached over $170 billion, with USDe's circulating supply exceeding $2.6 billion. Ethena Labs, the issuer of USDe, allows users to mint the stablecoin against various tokens and hedges against volatility using offchain financial derivatives. This development comes amidst the growing adoption of stablecoins in the financial industry. Read more AI-generated news on: https://app.chaingpt.org/news
Acceptance of USDe as Collateral for Trading
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