YZi Labs Increases Investment in Ethena Labs to Boost USDe Ecosystem
YZi Labs' expanded investment will accelerate USDe adoption, support BNB Chain expansion, and fund key projects USDtb and Converge, aimed at advancing digital dollar infrastructure.
Multiple sources confirm YZi Labs (the rebranded Binance Labs) was a new investor in a September 2025 financing round for Ethena Labs. Since Binance Labs was already an investor, this new participation constitutes an increased investment. The evidence explicitly states the purpose of the new funding is to support the Ethena ecosystem and its USDe stablecoin, corroborating the entire statement.
YZi Labs has increased its investment in Ethena Labs, the creator of the USDe synthetic dollar. This move supports the growth of USDe on both centralized and decentralized exchanges, enhances BNB Chain expansion, and funds the development of two significant projects—USDtb and Converge, which focus on fiat-backed stablecoins and institutional-grade settlement solutions.
- USDe: A synthetic USD-denominated crypto asset with supply exceeding $13 billion, designed to provide a decentralized dollar alternative.
- USDtb: A fiat-backed stablecoin under development by Ethena Labs, targeting GENIUS compliance to meet regulatory standards.
- Converge: An institutional settlement layer being developed with partners like Securitize and BlackRock to enable on-chain real-world asset transactions.