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Ethena Labs Approves BNB as First Collateral Under New Asset Framework

Ethena Labs Approves BNB as First Collateral Under New Asset Framework

XRP’s inclusion in Ethena Labs’ USDe stablecoin collateral framework marks a significant step in its growing utility, positioning it alongside BNB and HYPE for potential onboarding.

BNB
XRP

Fact Check
The statement is directly and consistently confirmed by multiple credible sources. Evidence from CoinGecko (Source 3), CoinStats (Sources 7 & 9), and CryptoSlate (Source 1) explicitly state that Ethena Labs approved BNB as the 'first new eligible asset' under its recently established 'Eligible Asset Framework' to back the USDe stablecoin.
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Summary

Ethena Labs has confirmed XRP’s eligibility for integration into its USDe stablecoin ecosystem after meeting all criteria under the new Eligible Asset Framework. With XRP’s liquidity and market capitalization exceeding $181 billion, it is now a candidate for inclusion as collateral for USDe’s perpetual futures. BNB was the first asset approved, with XRP and HYPE expected to follow soon. XRP’s move into this new role further expands its utility in the digital asset market, signaling increased institutional adoption.

Terms & Concepts
  • USDe: A stablecoin developed by Ethena Labs, backed by approved collateral assets to maintain value stability.
  • Eligible Asset Framework: A set of requirements by Ethena Labs for assessing and approving digital assets as collateral for USDe, ensuring liquidity and stability.
  • Collateral Asset: Digital assets pledged to support the value and stability of a cryptocurrency or stablecoin system.