Binance is bringing USDe, Ethena’s reward-bearing digital dollar, to its massive platform of over 280 million users and $190 billion in assets. Let’s break this down.
The partnership lets traders earn rewards by holding USDe on Binance, a first among stablecoins like USDT and USDC.
Why This Matters
USDT has long dominated exchanges as the top $80B trading and collateral asset. Binance currently holds $40 billion in stablecoins, all of which are earning zero returns for users. USDe is about to change that.
Binance has historically pursued a strategy of providing in-house product solutions, and very rarely open their platform to external teams without rigorous examination and a demonstration of very clear product market fit.
Both their investment into Ethena and now integrations of…
— G | Ethena (@gdog97_) September 9, 2025
Binance now supports USDe, its first externally developed dollar asset. Traders can now use USDe as futures collateral and earn weekly rewards on Binance. These rewards will commence at the end of September, offering traders a new opportunity to grow their holdings while trading.
How It Works
The setup is simple: if you hold USDe anywhere on Binance, whether in your spot wallet or portfolio margin, you’ll earn rewards. It could completely reshape how people trade on Binance by making capital more efficient. On Bybit, a similar deal drove USDe past USDC within weeks, grabbing 12% of USD balances. Binance’s much larger user base could further drive USDe growth.
USDe will join Binance Earn, allowing users to earn rewards similar to those of other stablecoins. From day one, USDe will offer some of the highest rewards on the platform. Additionally, a USDe-USDT spot trading pair will go live, with more pairs to follow in the coming weeks. This makes it easy for traders to swap between USDe and other stablecoins.
We are excited to announce one of our most important integrations to date
Ethena has partnered with Binance to embed USDe across its entire platform of 280m+ users and $190b+ in assets including:
• USDe reward bearing collateral for futures and perpetuals trading
• Direct… pic.twitter.com/Rys4FKKd9t— Ethena Labs (@ethena_labs) September 9, 2025
Looking Ahead
Binance rarely backs outside projects without heavy testing, making the partnership significant. With this launch, USDe has the potential to reach billions in adoption, making it one of the top dollar assets on Binance.
To traders, this will mark the start of a more rewarding trading experience. With USDe, you will finally be able to put your stablecoins to work while still allowing you to trade freely. It is the beginning of a new level in relations between Ethena and Binance.
Disclaimer
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